Ulta Beauty (NASDAQ: ULTA) Hits New 12-Month High on Analyst Upgrade

Shares of Ulta Beauty, Inc. (NASDAQ: ULTA) hit a new 52-week high on Monday after Piper Sandler raised her price target from $ 386.00 to $ 405.00. Piper Sandler is currently overweight the stock. Ulta Beauty traded up to $ 376.00 and last traded at $ 375.21, with volume of 3,230 shares. The stock had previously closed at $ 366.77.

A number of other research companies have also recently commented on ULTA. Telsey Advisory Group raised its price target on Ulta Beauty from $ 400.00 to $ 415.00 and gave the company an “outperformance” rating in a report released on Wednesday, August 18. Oppenheimer raised its price target on Ulta Beauty from $ 385.00 to $ 415.00 and gave the company an “outperformance” rating in a report released on Monday, August 16. Deutsche Bank Aktiengesellschaft raised its price target on Ulta Beauty from $ 365.00 to $ 410.00 and gave the company a “buy” rating in a report released on Friday, May 28. Loop Capital raised its target price on Ulta Beauty from $ 320.00 to $ 340.00 and gave the company a “conservation” rating in a research note on Friday, May 28. Finally, Morgan Stanley raised its target price on Ulta Beauty from $ 330.00 to $ 350.00 and gave the company an “equal weight” rating in a Tuesday, June 1 research note. Seven investment analysts rated the stock with a conservation rating and sixteen issued a buy rating for the stock. The stock has an average rating of “Buy” and an average price target of $ 359.29.

In other Ultra Beauty news, director Michael R. Macdonald sold 5,700 shares of the company in a trade on Thursday, August 5. The stock was sold at an average price of $ 350.04, for a total trade of $ 1,995,228.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. In addition, principal Mary N. Dillon sold 81,663 shares of the company in a trade on Friday, June 4. The stock was sold for an average price of $ 325.58, for a total value of $ 26,587,839.54. As a result of the transaction, the director now owns 97,169 shares of the company, valued at approximately $ 31,636,283.02. Disclosure of this sale can be found here. During the last quarter, insiders sold 92,821 shares of the company valued at $ 30,405,297. 3.10% of the shares are held by insiders.

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Institutional investors recently bought and sold shares in the company. Amundi acquired a new stake in the shares of Ulta Beauty in the 2nd quarter for a value of $ 373,386,000. Macquarie Group Ltd. increased its stake in Ultra Beauty shares by 609.9% in the 2nd quarter. Macquarie Group Ltd. now owns 855,478 shares of the specialty retailer valued at $ 295,798,000 after purchasing an additional 734,964 shares last quarter. Artisan Partners Limited Partnership acquired a new stake in the shares of Ulta Beauty in the 1st quarter valued at $ 172,032,000. Select Equity Group LP increased its stake in the shares of Ultra Beauty by 15.8% in the 1st quarter. Select Equity Group LP now owns 2,363,712 shares of the specialty retailer valued at $ 730,789,000 after purchasing an additional 322,320 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in the shares of Ulta Beauty in the second quarter for a value of $ 105,456,000. Hedge funds and other institutional investors hold 81.32% of the company’s shares.

The stock has a market cap of $ 20.55 billion, a P / E ratio of 43.70, a price / earnings-growth ratio of 1.85, and a beta of 1.70. The company’s fifty-day simple moving average is $ 345.34.

Ulta Beauty (NASDAQ: ULTA) last released its quarterly earnings data on Wednesday, May 26. The specialty retailer reported earnings per share of $ 4.10 for the quarter, beating Thomson Reuters’ consensus estimate of $ 1.92 by $ 2.18. Ulta Beauty recorded a return on equity of 29.86% and a net margin of 7.01%. The company posted revenue of $ 1.94 billion for the quarter, compared to a consensus estimate of $ 1.64 billion. In the same quarter of last year, the company posted EPS ($ 1.39). Ulta Beauty’s revenue for the quarter increased 65.2% year-over-year. Equity research analysts predict that Ulta Beauty, Inc. will post 12.17 EPS for the current year.

About Ulta Beauté (NASDAQ: ULTA)

Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The Company’s stores offer cosmetics, perfumes, skin and hair care products, bath and body products and barber styling tools; professional hair products; salon services, including hairdressing, skin, makeup and eyebrow services; and others, including nail products and accessories.

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