Ulta Beauty Inc. (NASDAQ:ULTA) was upgraded by equities research analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a $310.00 price target on the specialty retailer’s stock. Goldman Sachs Group, Inc. (The)’s target price would suggest a potential upside of 18.44% from the company’s current price.

Several other brokerages also recently weighed in on ULTA. Stifel Nicolaus restated a “hold” rating and issued a $325.00 target price (up from $305.00) on shares of Ulta Beauty in a research note on Tuesday, June 6th. Jefferies Group LLC upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and upped their target price for the company from $266.00 to $350.00 in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Morgan Stanley upped their target price on shares of Ulta Beauty from $300.00 to $313.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 31st. Finally, Guggenheim assumed coverage on shares of Ulta Beauty in a research note on Tuesday, June 13th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. Ulta Beauty presently has a consensus rating of “Buy” and an average target price of $322.21.

Shares of Ulta Beauty (ULTA) opened at 261.74 on Friday. The stock has a 50 day moving average of $297.02 and a 200-day moving average of $280.25. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 36.76 and a beta of 0.59. Ulta Beauty has a one year low of $225.13 and a one year high of $314.86.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, May 25th. The specialty retailer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.12. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.28 billion. Ulta Beauty had a net margin of 8.75% and a return on equity of 28.91%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 earnings per share. On average, equities analysts anticipate that Ulta Beauty will post $8.32 earnings per share for the current fiscal year.

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In other Ulta Beauty news, Director Robert F. Diromualdo sold 20,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $309.05, for a total transaction of $6,181,000.00. Following the sale, the director now directly owns 4,717 shares of the company’s stock, valued at $1,457,788.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Catherine Ann Halligan sold 500 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $312.36, for a total transaction of $156,180.00. Following the sale, the director now directly owns 4,126 shares in the company, valued at $1,288,797.36. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Balasa Dinverno & Foltz LLC boosted its stake in shares of Ulta Beauty by 1.9% in the first quarter. Balasa Dinverno & Foltz LLC now owns 989 shares of the specialty retailer’s stock worth $282,000 after buying an additional 18 shares during the period. Trust Investment Advisors boosted its stake in shares of Ulta Beauty by 0.7% in the first quarter. Trust Investment Advisors now owns 3,865 shares of the specialty retailer’s stock worth $1,102,000 after buying an additional 25 shares during the period. Cleararc Capital Inc. boosted its stake in shares of Ulta Beauty by 1.9% in the first quarter. Cleararc Capital Inc. now owns 1,448 shares of the specialty retailer’s stock worth $413,000 after buying an additional 27 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Ulta Beauty by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 1,890 shares of the specialty retailer’s stock worth $539,000 after buying an additional 30 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Ulta Beauty by 11.2% in the first quarter. Fifth Third Bancorp now owns 398 shares of the specialty retailer’s stock worth $114,000 after buying an additional 40 shares during the period. 86.17% of the stock is currently owned by institutional investors.

Ulta Beauty Company Profile

Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.

Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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