Telsey Advisory Group Issues Positive Forecast for Ulta Beauty (NASDAQ:ULTA) Stock Price

Ulta Beauty (NASDAQ:ULTA) had its price objective lifted by stock analysts at Telsey Advisory Group from $640.00 to $715.00 in a research note issued on Monday, MarketBeat.com reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Telsey Advisory Group’s price target suggests a potential upside of 10.62% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Bank of America upped their price objective on shares of Ulta Beauty from $610.00 to $685.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. boosted their price target on shares of Ulta Beauty from $600.00 to $606.00 and gave the company an “overweight” rating in a research report on Monday, December 1st. Zacks Research downgraded shares of Ulta Beauty from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Morgan Stanley lifted their price objective on shares of Ulta Beauty from $640.00 to $750.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Finally, Barclays restated an “overweight” rating and set a $680.00 target price on shares of Ulta Beauty in a research report on Tuesday, January 6th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ulta Beauty currently has an average rating of “Moderate Buy” and a consensus target price of $629.84.

Ulta Beauty Price Performance

Shares of ULTA opened at $646.34 on Monday. Ulta Beauty has a 1 year low of $309.01 and a 1 year high of $714.97. The stock’s fifty day moving average price is $664.38 and its two-hundred day moving average price is $584.35. The firm has a market cap of $28.67 billion, a PE ratio of 24.78, a PEG ratio of 3.01 and a beta of 0.82.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, December 4th. The specialty retailer reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.53. Ulta Beauty had a return on equity of 46.33% and a net margin of 9.93%.The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company earned $5.14 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

Several large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Ulta Beauty during the 4th quarter worth $430,963,000. Holocene Advisors LP increased its stake in Ulta Beauty by 339.6% in the third quarter. Holocene Advisors LP now owns 379,939 shares of the specialty retailer’s stock valued at $207,732,000 after acquiring an additional 293,516 shares during the last quarter. Andra AP fonden increased its stake in Ulta Beauty by 351,900.0% in the third quarter. Andra AP fonden now owns 228,800 shares of the specialty retailer’s stock valued at $125,096,000 after acquiring an additional 228,735 shares during the last quarter. Corient Private Wealth LLC raised its position in Ulta Beauty by 1,837.4% during the fourth quarter. Corient Private Wealth LLC now owns 230,998 shares of the specialty retailer’s stock valued at $139,756,000 after purchasing an additional 219,075 shares in the last quarter. Finally, Invesco Ltd. raised its position in Ulta Beauty by 33.6% during the third quarter. Invesco Ltd. now owns 840,383 shares of the specialty retailer’s stock valued at $459,479,000 after purchasing an additional 211,485 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

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.