Ulta Salon, Cosmetics & Fragrance Inc. (NASDAQ:ULTA) gapped up before the market opened on Friday . The stock had previously closed at $255.02, but opened at $255.11. Ulta Salon, Cosmetics & Fragrance shares last traded at $256.05, with a volume of 332,114 shares trading hands.

ULTA has been the subject of a number of recent research reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Ulta Salon, Cosmetics & Fragrance in a research report on Sunday, May 29th. Piper Jaffray Cos. reissued an “overweight” rating and set a $250.00 price objective (up previously from $235.00) on shares of Ulta Salon, Cosmetics & Fragrance in a research report on Saturday, June 25th. Robert W. Baird reissued a “buy” rating on shares of Ulta Salon, Cosmetics & Fragrance in a research report on Sunday, May 29th. Jefferies Group boosted their price objective on shares of Ulta Salon, Cosmetics & Fragrance from $180.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, May 27th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating and set a $225.00 price objective (up previously from $195.00) on shares of Ulta Salon, Cosmetics & Fragrance in a research report on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. Ulta Salon, Cosmetics & Fragrance presently has an average rating of “Buy” and a consensus target price of $228.26.

The stock has a market cap of $15.98 billion and a P/E ratio of 47.46. The company’s 50-day moving average is $240.53 and its 200 day moving average is $199.62.

Ulta Salon, Cosmetics & Fragrance (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, May 26th. The company reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.16. During the same quarter in the prior year, the business posted $1.04 EPS. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. Analysts predict that Ulta Salon, Cosmetics & Fragrance Inc. will post $6.13 earnings per share for the current fiscal year.

Other hedge funds recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Ulta Salon, Cosmetics & Fragrance by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 4,168,250 shares of the company’s stock valued at $771,126,000 after buying an additional 126,282 shares during the period. Morgan Stanley raised its stake in shares of Ulta Salon, Cosmetics & Fragrance by 73.9% in the fourth quarter. Morgan Stanley now owns 1,626,126 shares of the company’s stock valued at $300,833,000 after buying an additional 691,262 shares during the period. OppenheimerFunds Inc. raised its stake in shares of Ulta Salon, Cosmetics & Fragrance by 21.9% in the fourth quarter. OppenheimerFunds Inc. now owns 171,422 shares of the company’s stock valued at $31,713,000 after buying an additional 30,762 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Ulta Salon, Cosmetics & Fragrance by 19.1% in the fourth quarter. State of Wisconsin Investment Board now owns 159,312 shares of the company’s stock valued at $29,473,000 after buying an additional 25,569 shares during the period. Finally, Cibc World Markets Corp raised its stake in shares of Ulta Salon, Cosmetics & Fragrance by 4.7% in the fourth quarter. Cibc World Markets Corp now owns 118,302 shares of the company’s stock valued at $21,886,000 after buying an additional 5,302 shares during the period.

Ulta Salon, Cosmetics & Fragrance, Inc is a beauty retailer. The Company operates specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services. The Company operates through three segments: retail stores, salon services and e-commerce. The Company also offers a full-service salon in every store featuring hair, skin and brow services.

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