Ulta Beauty (ULTA) Given New $390.00 Price Target at JPMorgan Chase & Co.

Ulta Beauty (NASDAQ:ULTA) had its target price raised by JPMorgan Chase & Co. from $345.00 to $390.00 in a research report released on Monday, The Fly reports. The firm currently has an overweight rating on the specialty retailer’s stock.

A number of other equities research analysts have also recently issued reports on ULTA. Credit Suisse Group upped their price objective on shares of Ulta Beauty to $380.00 and gave the stock an outperform rating in a report on Friday, March 15th. Zacks Investment Research cut shares of Ulta Beauty from a hold rating to a sell rating in a report on Friday, March 15th. Loop Capital upped their price objective on shares of Ulta Beauty to $340.00 and gave the stock a hold rating in a report on Monday, March 18th. They noted that the move was a valuation call. Morgan Stanley upped their price target on shares of Ulta Beauty from $330.00 to $355.00 and gave the company an overweight rating in a report on Monday, March 18th. Finally, Telsey Advisory Group restated an outperform rating and set a $375.00 price target (up from $360.00) on shares of Ulta Beauty in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $325.29.

Shares of NASDAQ:ULTA opened at $353.94 on Monday. The firm has a market capitalization of $20.59 billion, a P/E ratio of 32.62, a price-to-earnings-growth ratio of 1.49 and a beta of 1.02. Ulta Beauty has a 1 year low of $224.35 and a 1 year high of $355.73.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $3.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.56 by $0.05. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Ulta Beauty had a net margin of 9.80% and a return on equity of 36.09%. Ulta Beauty’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.75 earnings per share. On average, analysts anticipate that Ulta Beauty will post 12.78 EPS for the current fiscal year.

In other news, Director Dennis K. Eck sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $352.83, for a total transaction of $3,528,300.00. Following the completion of the transaction, the director now owns 220,000 shares of the company’s stock, valued at $77,622,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott M. Settersten sold 29,529 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $338.64, for a total transaction of $9,999,700.56. Following the transaction, the chief financial officer now directly owns 7,737 shares of the company’s stock, valued at approximately $2,620,057.68. The disclosure for this sale can be found here. Insiders have sold 426,250 shares of company stock valued at $143,394,373 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Legacy Financial Advisors Inc. raised its position in shares of Ulta Beauty by 1,270.0% during the fourth quarter. Legacy Financial Advisors Inc. now owns 137 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 127 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Ulta Beauty by 74.2% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 162 shares of the specialty retailer’s stock valued at $40,000 after buying an additional 69 shares during the last quarter. NuWave Investment Management LLC acquired a new position in shares of Ulta Beauty during the first quarter valued at about $49,000. Ipswich Investment Management Co. Inc. acquired a new position in shares of Ulta Beauty during the fourth quarter valued at about $53,000. Finally, Claybrook Capital LLC acquired a new position in shares of Ulta Beauty during the fourth quarter valued at about $62,000. 90.85% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.

Read More: Return On Assets

The Fly

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