Wells Fargo & Company Raises Ulta Beauty (NASDAQ:ULTA) Price Target to $500.00

Ulta Beauty (NASDAQ:ULTA) had its price objective upped by Wells Fargo & Company from $450.00 to $500.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 19.84% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $775.00 target price on shares of Ulta Beauty in a report on Tuesday, January 27th. Evercore raised their price target on Ulta Beauty from $640.00 to $660.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Telsey Advisory Group upped their price objective on Ulta Beauty from $640.00 to $715.00 and gave the company an “outperform” rating in a research note on Monday. Zacks Research cut Ulta Beauty from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Finally, DA Davidson lifted their target price on Ulta Beauty from $625.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $633.12.

Ulta Beauty Stock Performance

NASDAQ ULTA traded down $22.60 on Monday, reaching $623.74. The stock had a trading volume of 91,474 shares, compared to its average volume of 513,068. The stock has a market cap of $27.67 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 3.01 and a beta of 0.82. Ulta Beauty has a 12-month low of $309.01 and a 12-month high of $714.97. The business’s 50-day moving average price is $664.38 and its 200 day moving average price is $584.35.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, December 4th. The specialty retailer reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.53. Ulta Beauty had a net margin of 9.93% and a return on equity of 46.33%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the company posted $5.14 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts predict that Ulta Beauty will post 23.96 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

Several hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC boosted its position in Ulta Beauty by 4.0% during the fourth quarter. Hsbc Holdings PLC now owns 146,343 shares of the specialty retailer’s stock worth $88,588,000 after purchasing an additional 5,617 shares in the last quarter. Worthington Financial Partners LLC acquired a new position in shares of Ulta Beauty during the 4th quarter worth $630,000. Rehmann Capital Advisory Group raised its stake in shares of Ulta Beauty by 10.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 891 shares of the specialty retailer’s stock worth $541,000 after buying an additional 82 shares during the last quarter. Reflection Asset Management purchased a new stake in shares of Ulta Beauty in the 4th quarter worth about $561,000. Finally, Tobam boosted its position in shares of Ulta Beauty by 1,170.5% in the 4th quarter. Tobam now owns 991 shares of the specialty retailer’s stock worth $600,000 after buying an additional 913 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Company Profile

Ulta Beauty, Inc (NASDAQ: ULTA) is a U.S.-based specialty retailer and beauty services provider focused on cosmetics, fragrance, skin care, hair care, bath and body, and beauty tools. The company operates a dual-format business that combines brick-and-mortar retail stores with an e-commerce platform, offering a broad assortment of national, prestige and mass-market brands alongside its own private-label products. In many locations Ulta also provides full-service salon treatments, positioning the company as a one-stop destination for product discovery and in-store services.

The retailer’s product mix spans color cosmetics, haircare and styling products, skin and body care, fragrance, and accessories, catering to a wide range of consumer preferences and price points.