Ulta Beauty (NASDAQ:ULTA) Rating Increased to Overweight at Morgan Stanley

Ulta Beauty (NASDAQ:ULTA) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a $500.00 price objective on the specialty retailer’s stock, up from their previous price objective of $430.00. Morgan Stanley’s target price would indicate a potential upside of 23.45% from the stock’s current price.

Other analysts have also issued research reports about the company. William Blair lowered Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. B. Riley raised Ulta Beauty from a “sell” rating to a “neutral” rating and raised their price target for the company from $330.00 to $430.00 in a report on Tuesday, January 7th. Canaccord Genuity Group increased their price objective on shares of Ulta Beauty from $500.00 to $538.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler lifted their target price on shares of Ulta Beauty from $390.00 to $394.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, StockNews.com upgraded shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $459.22.

Ulta Beauty Stock Down 2.0 %

Shares of Ulta Beauty stock opened at $405.01 on Tuesday. The stock has a market cap of $18.78 billion, a P/E ratio of 16.21, a P/E/G ratio of 0.97 and a beta of 1.28. Ulta Beauty has a 12-month low of $318.17 and a 12-month high of $574.76. The business’s 50 day moving average is $404.52 and its 200-day moving average is $384.77.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.45 by $0.69. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm posted $5.07 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts expect that Ulta Beauty will post 23.93 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Paladin Wealth LLC acquired a new stake in shares of Ulta Beauty in the 3rd quarter valued at approximately $32,000. Sunbelt Securities Inc. boosted its position in Ulta Beauty by 118.4% in the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 45 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after buying an additional 50 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Ulta Beauty during the third quarter worth $41,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Ulta Beauty during the fourth quarter worth $43,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.