Research Analysts’ Weekly Ratings Changes for Ulta Beauty (ULTA)

Several brokerages have updated their recommendations and price targets on shares of Ulta Beauty (NASDAQ: ULTA) in the last few weeks:

• 3/14/2022 – Ulta Beauty had its price target raised by analysts at Barclays PLC from $440.00 to $469.00. They now have an “overweight” rating on the stock.
• 3/11/2022 – Ulta Beauty had its price target raised by analysts at BMO Capital Markets from $365.00 to $385.00. They now have a “market perform” rating on the stock.
• 3/11/2022 – Ulta Beauty had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $455.00 price target on the stock.
• 3/11/2022 – Ulta Beauty had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $512.00 to $522.00. They now have a “buy” rating on the stock.
• 3/11/2022 – Ulta Beauty had its price target lowered by analysts at DA Davidson from $500.00 to $450.00.
• 3/11/2022 – Ulta Beauty had its price target lowered by analysts at Robert W. Baird from $480.00 to $450.00.
• 2/8/2022 – Ulta Beauty was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 2/2/2022 – Ulta Beauty was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. They now have a $391.00 price target on the stock. According to Zacks, “Ulta Beauty has outperformed the industry in the past six months. The company has been benefiting from its omnichannel strength, thanks to the efficient store and digital operations. Also, the company’s skincare category has been gaining on consumers’ rising interest toward self-care. These upsides, along with strong cost-containment efforts, aided third-quarter fiscal 2021 results, wherein both the top and bottom lines grew year over year and beat the Zacks Consensus Estimate. Further, management raised its fiscal 2021 guidance. The company witnessed double-digit comparable sales growth across all major categories on the back of cycling of last year’s pandemic-induced disruption, product newness and efficient promotions. Makeup trends also improved, though it remained lower than 2019 level. High SG&A costs are also a concern.”
• 1/26/2022 – Ulta Beauty had its price target lowered by analysts at Raymond James from $485.00 to $450.00. They now have an “outperform” rating on the stock.

Shares of ULTA traded down $10.83 during mid-day trading on Monday, hitting $380.40. 34,149 shares of the company traded hands, compared to its average volume of 737,532. Ulta Beauty, Inc. has a 1-year low of $297.29 and a 1-year high of $422.43. The company has a market capitalization of $20.59 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.06 and a beta of 1.65. The business has a 50 day moving average of $370.19 and a 200 day moving average of $381.16.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last posted its quarterly earnings data on Thursday, March 10th. The specialty retailer reported $5.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.56 by $0.85. Ulta Beauty had a net margin of 11.42% and a return on equity of 54.42%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company posted $3.41 earnings per share. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, sell-side analysts predict that Ulta Beauty, Inc. will post 18.54 earnings per share for the current fiscal year.

In other news, insider Jodi J. Caro sold 5,340 shares of the stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $384.54, for a total transaction of $2,053,443.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.10% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. HighTower Advisors LLC boosted its stake in shares of Ulta Beauty by 8.3% in the 3rd quarter. HighTower Advisors LLC now owns 102,058 shares of the specialty retailer’s stock valued at $36,862,000 after buying an additional 7,844 shares during the period. US Bancorp DE lifted its stake in Ulta Beauty by 9.5% during the third quarter. US Bancorp DE now owns 10,268 shares of the specialty retailer’s stock worth $3,707,000 after purchasing an additional 895 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its stake in Ulta Beauty by 43.1% in the third quarter. Candriam Luxembourg S.C.A. now owns 6,826 shares of the specialty retailer’s stock valued at $2,464,000 after buying an additional 2,057 shares during the last quarter. Scotia Capital Inc. purchased a new stake in Ulta Beauty in the third quarter valued at approximately $4,343,000. Finally, AE Wealth Management LLC increased its holdings in shares of Ulta Beauty by 40.0% in the fourth quarter. AE Wealth Management LLC now owns 8,478 shares of the specialty retailer’s stock valued at $3,496,000 after purchasing an additional 2,422 shares during the period. 88.92% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty, Inc engages in the retail of beauty products. Its products include makeup, skin care, tools and brushes, fragrance, and bath and body. The company was founded on January 9, 1990 and is headquartered in Bolingbrook, IL.

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