JPMorgan Chase & Co. Increases Ulta Beauty (NASDAQ:ULTA) Price Target to $472.00

Ulta Beauty (NASDAQ:ULTA) had its price target lifted by JPMorgan Chase & Co. from $450.00 to $472.00 in a research note published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty retailer’s stock.

Several other analysts have also recently weighed in on the stock. B. Riley assumed coverage on shares of Ulta Beauty in a research report on Tuesday, September 10th. They set a “sell” rating and a $300.00 price objective on the stock. Wells Fargo & Company lowered their price target on Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, August 30th. Canaccord Genuity Group dropped their price target on Ulta Beauty from $522.00 to $500.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Piper Sandler increased their price objective on Ulta Beauty from $356.00 to $357.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, TD Cowen decreased their price objective on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $420.71.

Ulta Beauty Stock Up 0.0 %

Ulta Beauty stock opened at $367.18 on Monday. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 2.10 and a beta of 1.32. The business has a 50-day simple moving average of $376.31 and a 200 day simple moving average of $384.77. Ulta Beauty has a 52 week low of $318.17 and a 52 week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.02 EPS. On average, research analysts anticipate that Ulta Beauty will post 23.07 earnings per share for the current year.

Institutional Trading of Ulta Beauty

A number of institutional investors have recently modified their holdings of the company. Riverview Trust Co purchased a new stake in Ulta Beauty in the 1st quarter worth approximately $30,000. Sound Income Strategies LLC lifted its stake in Ulta Beauty by 490.0% in the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 49 shares during the period. LRI Investments LLC bought a new stake in Ulta Beauty in the first quarter valued at $31,000. UMB Bank n.a. increased its position in Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares during the period. Finally, Innealta Capital LLC bought a new position in Ulta Beauty in the 2nd quarter worth $32,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

About Ulta Beauty

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.