Ulta Beauty (NASDAQ:ULTA) Receives Outperform Rating from Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Ulta Beauty (NASDAQ:ULTA) in a research note released on Thursday,Benzinga reports. Telsey Advisory Group currently has a $520.00 price target on the specialty retailer’s stock.

A number of other analysts also recently issued reports on the company. Oppenheimer raised their target price on Ulta Beauty from $465.00 to $510.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Bank of America cut their price target on Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Raymond James Financial restated an “outperform” rating and issued a $500.00 price objective (up from $450.00) on shares of Ulta Beauty in a research note on Friday, May 30th. B. Riley cut their target price on shares of Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Finally, The Goldman Sachs Group raised shares of Ulta Beauty from a “neutral” rating to a “buy” rating and boosted their target price for the company from $384.00 to $423.00 in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $462.22.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $457.66 on Thursday. Ulta Beauty has a fifty-two week low of $309.01 and a fifty-two week high of $491.98. The firm’s 50-day simple moving average is $425.67 and its 200 day simple moving average is $399.98. The stock has a market cap of $20.57 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.71 and a beta of 1.09.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.79 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. Ulta Beauty’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $6.47 earnings per share. As a group, analysts predict that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Insider Activity at Ulta Beauty

In other Ulta Beauty news, insider Jodi J. Caro sold 902 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the sale, the insider now owns 7,632 shares of the company’s stock, valued at $2,817,429.12. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ulta Beauty

A number of hedge funds have recently modified their holdings of the company. Capital World Investors bought a new stake in shares of Ulta Beauty in the fourth quarter worth about $430,674,000. Price T Rowe Associates Inc. MD lifted its holdings in Ulta Beauty by 128.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer’s stock worth $449,021,000 after buying an additional 688,267 shares during the period. Norges Bank purchased a new stake in Ulta Beauty in the 4th quarter worth approximately $239,432,000. Marshall Wace LLP grew its position in shares of Ulta Beauty by 10,336.7% in the 4th quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer’s stock worth $199,681,000 after buying an additional 454,711 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Ulta Beauty by 38,770.6% during the first quarter. GAMMA Investing LLC now owns 443,513 shares of the specialty retailer’s stock valued at $162,565,000 after buying an additional 442,372 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.