Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $650.00

Ulta Beauty (NASDAQ:ULTA) had its price target increased by DA Davidson from $625.00 to $650.00 in a research report sent to investors on Friday,Benzinga reports. DA Davidson currently has a buy rating on the specialty retailer’s stock.

Several other brokerages have also commented on ULTA. Raymond James Financial reaffirmed an “outperform” rating on shares of Ulta Beauty in a research report on Friday. Jefferies Financial Group upped their price target on shares of Ulta Beauty from $425.00 to $550.00 and gave the company a “hold” rating in a research note on Tuesday, August 26th. The Goldman Sachs Group lifted their price objective on shares of Ulta Beauty from $530.00 to $584.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Citigroup boosted their price objective on shares of Ulta Beauty from $450.00 to $550.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Finally, Bank of America raised their target price on Ulta Beauty from $500.00 to $575.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Fourteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $562.54.

Ulta Beauty Trading Up 12.7%

Shares of ULTA opened at $601.50 on Friday. The firm has a market cap of $26.68 billion, a PE ratio of 23.06, a P/E/G ratio of 3.83 and a beta of 0.87. Ulta Beauty has a 12 month low of $309.01 and a 12 month high of $611.90. The stock has a fifty day moving average price of $532.44 and a 200-day moving average price of $507.32.

Ulta Beauty (NASDAQ:ULTA) last announced its 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 firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the business earned $5.14 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Ulta Beauty has set its FY 2025 guidance at 25.200-25.500 EPS. As a group, research analysts forecast that Ulta Beauty will post 23.96 EPS for the current year.

Hedge Funds Weigh In On Ulta Beauty

A number of institutional investors have recently modified their holdings of the stock. J. Safra Sarasin Holding AG grew its holdings in shares of Ulta Beauty by 167.8% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 4,513 shares of the specialty retailer’s stock worth $2,111,000 after purchasing an additional 2,828 shares during the period. Ascent Group LLC purchased a new stake in Ulta Beauty in the 2nd quarter valued at about $395,000. Allegiance Financial Group Advisory Services LLC acquired a new position in Ulta Beauty in the second quarter valued at about $306,000. Atria Investments Inc boosted its stake in Ulta Beauty by 14.7% during the second quarter. Atria Investments Inc now owns 4,051 shares of the specialty retailer’s stock worth $1,895,000 after buying an additional 518 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Ulta Beauty during the second quarter worth about $262,000. 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.