Morgan Stanley Raises Ulta Beauty (ULTA) Price Target to $280.00

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Ulta Beauty (NASDAQ:ULTA) had its target price upped by Morgan Stanley from $260.00 to $280.00 in a research report released on Tuesday morning. Morgan Stanley currently has an overweight rating on the specialty retailer’s stock.

A number of other research analysts have also weighed in on ULTA. Stifel Nicolaus dropped their price target on shares of Ulta Beauty from $250.00 to $245.00 and set a hold rating on the stock in a research report on Friday, August 24th. ValuEngine lowered shares of Ulta Beauty from a sell rating to a strong sell rating in a research report on Monday, July 2nd. BidaskClub raised shares of Ulta Beauty from a sell rating to a hold rating in a research report on Thursday, July 12th. UBS Group dropped their price target on shares of Ulta Beauty from $290.00 to $285.00 and set a buy rating on the stock in a research report on Friday, August 31st. Finally, Deutsche Bank set a $244.00 price target on shares of Ulta Beauty and gave the company a hold rating in a research report on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Ulta Beauty presently has a consensus rating of Buy and a consensus target price of $265.52.

Ulta Beauty stock opened at $275.66 on Tuesday. Ulta Beauty has a 1-year low of $187.96 and a 1-year high of $276.78. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 1.36 and a beta of 0.73.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, August 30th. The specialty retailer reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.05. Ulta Beauty had a net margin of 9.91% and a return on equity of 33.29%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. equities research analysts anticipate that Ulta Beauty will post 10.84 EPS for the current fiscal year.

In other Ulta Beauty news, Director Dennis K. Eck sold 10,900 shares of Ulta Beauty stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $250.57, for a total value of $2,731,213.00. Following the sale, the director now owns 386,794 shares of the company’s stock, valued at $96,918,972.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dennis K. Eck sold 3,500 shares of Ulta Beauty stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $251.53, for a total transaction of $880,355.00. Following the completion of the sale, the director now directly owns 380,294 shares in the company, valued at approximately $95,655,349.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,400 shares of company stock worth $18,176,208. Insiders own 5.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Schroder Investment Management Group bought a new stake in Ulta Beauty in the second quarter worth about $2,599,000. Advisors Asset Management Inc. increased its stake in shares of Ulta Beauty by 39.4% in the second quarter. Advisors Asset Management Inc. now owns 26,484 shares of the specialty retailer’s stock worth $6,183,000 after purchasing an additional 7,484 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Ulta Beauty by 48.7% in the second quarter. Public Employees Retirement System of Ohio now owns 36,068 shares of the specialty retailer’s stock worth $8,420,000 after purchasing an additional 11,808 shares in the last quarter. Davidson Kempner Capital Management LP purchased a new position in shares of Ulta Beauty in the second quarter worth about $40,856,000. Finally, Mount Yale Investment Advisors LLC increased its stake in shares of Ulta Beauty by 25.8% in the second quarter. Mount Yale Investment Advisors LLC now owns 1,724 shares of the specialty retailer’s stock worth $402,000 after purchasing an additional 354 shares in the last quarter. 89.59% of the stock is currently owned by institutional investors and hedge funds.

About Ulta Beauty

Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.

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