TD Cowen Lowers Ulta Beauty (NASDAQ:ULTA) Price Target to $520.00

Ulta Beauty (NASDAQ:ULTA) had its price target dropped by TD Cowen from $580.00 to $520.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. TD Cowen’s price objective indicates a potential upside of 22.48% from the stock’s previous close.

Several other research firms have also issued reports on ULTA. Telsey Advisory Group reiterated an “outperform” rating and set a $600.00 price objective on shares of Ulta Beauty in a research note on Friday, March 15th. BMO Capital Markets increased their price objective on Ulta Beauty from $485.00 to $540.00 and gave the stock a “market perform” rating in a research note on Friday, March 15th. Jefferies Financial Group dropped their price objective on Ulta Beauty from $610.00 to $585.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Morgan Stanley raised their target price on Ulta Beauty from $480.00 to $525.00 and gave the company an “equal weight” rating in a research note on Friday, March 15th. Finally, DA Davidson restated a “buy” rating and issued a $595.00 target price on shares of Ulta Beauty in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ulta Beauty presently has a consensus rating of “Moderate Buy” and a consensus target price of $568.29.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $424.55 on Thursday. The stock has a market cap of $20.49 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 1.75 and a beta of 1.30. Ulta Beauty has a one year low of $368.02 and a one year high of $574.76. The stock has a fifty day moving average price of $515.89 and a 200 day moving average price of $467.84.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, topping the consensus estimate of $7.49 by $0.59. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period last year, the business earned $6.68 earnings per share. Ulta Beauty’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Ulta Beauty will post 26.74 EPS for the current year.

Ulta Beauty announced that its board has approved a stock buyback plan on Thursday, March 14th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Ulta Beauty

In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total value of $263,130.00. Following the sale, the director now owns 1,665 shares in the company, valued at approximately $876,222.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total transaction of $263,130.00. Following the transaction, the director now owns 1,665 shares of the company’s stock, valued at approximately $876,222.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anita Jane Ryan sold 3,102 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total value of $1,629,325.50. Following the transaction, the insider now directly owns 2,705 shares in the company, valued at approximately $1,420,801.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,552 shares of company stock worth $12,920,326. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Ulta Beauty during the 4th quarter worth approximately $25,000. Coppell Advisory Solutions LLC acquired a new position in shares of Ulta Beauty during the 2nd quarter worth approximately $26,000. Vima LLC acquired a new position in shares of Ulta Beauty during the 4th quarter worth approximately $27,000. Riverview Trust Co bought a new stake in Ulta Beauty in the 1st quarter valued at $30,000. Finally, Ancora Advisors LLC bought a new stake in Ulta Beauty in the 1st quarter valued at $31,000. 90.39% of the stock is owned by institutional investors and hedge funds.

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.