Ulta Beauty (NASDAQ:ULTA) Stock Rating Upgraded by B. Riley

B. Riley upgraded shares of Ulta Beauty (NASDAQ:ULTA) from a sell rating to a neutral rating in a report issued on Tuesday morning, Marketbeat.com reports. The firm currently has $430.00 price objective on the specialty retailer’s stock, up from their previous price objective of $330.00.

ULTA has been the topic of a number of other research reports. DA Davidson raised their target price on Ulta Beauty from $435.00 to $510.00 and gave the company a “buy” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Piper Sandler increased their target price on shares of Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a report on Monday. Wells Fargo & Company boosted their price target on shares of Ulta Beauty from $300.00 to $350.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Finally, Oppenheimer increased their price objective on shares of Ulta Beauty from $505.00 to $515.00 and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ulta Beauty currently has a consensus rating of “Hold” and an average price target of $454.43.

Ulta Beauty Stock Down 0.7 %

NASDAQ ULTA opened at $428.27 on Tuesday. Ulta Beauty has a 52 week low of $318.17 and a 52 week high of $574.76. The business has a 50 day moving average price of $399.50 and a 200-day moving average price of $383.42. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 2.38 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.45 by $0.69. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.07 earnings per share. On average, equities research analysts anticipate that Ulta Beauty will post 23.57 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

Hedge funds have recently made changes to their positions in the stock. Paladin Wealth LLC bought a new position in Ulta Beauty in the 3rd quarter worth about $32,000. Sunbelt Securities Inc. increased its holdings in Ulta Beauty by 118.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 45 shares during the period. Westside Investment Management Inc. lifted its stake in Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 50 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Ulta Beauty in the third quarter worth $41,000. Finally, American National Bank & Trust purchased a new stake in Ulta Beauty during the third quarter valued at about $44,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.