Ulta Beauty (NASDAQ:ULTA) Price Target Cut to $228.00

Ulta Beauty (NASDAQ:ULTA) had its price target cut by Piper Jaffray Companies from $250.00 to $228.00 in a report released on Monday, The Fly reports. They currently have a neutral rating on the specialty retailer’s stock. Piper Jaffray Companies also issued estimates for Ulta Beauty’s Q4 2020 earnings at $3.69 EPS, FY2020 earnings at $11.57 EPS, Q1 2021 earnings at $3.22 EPS, Q2 2021 earnings at $3.02 EPS, Q3 2021 earnings at $2.37 EPS, Q4 2021 earnings at $4.08 EPS, FY2021 earnings at $12.68 EPS and FY2022 earnings at $13.94 EPS.

A number of other research firms have also recently weighed in on ULTA. ValuEngine upgraded shares of Ulta Beauty from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Barclays started coverage on shares of Ulta Beauty in a report on Tuesday, November 12th. They issued an equal weight rating and a $251.00 target price for the company. Morgan Stanley cut shares of Ulta Beauty from an overweight rating to an equal weight rating and dropped their price target for the stock from $395.00 to $275.00 in a research note on Friday, August 30th. Atlantic Securities downgraded shares of Ulta Beauty from an overweight rating to a neutral rating and cut their price target for the company from $390.00 to $250.00 in a report on Friday, August 30th. Finally, Jefferies Financial Group set a $310.00 price objective on shares of Ulta Beauty and gave the stock a buy rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $286.57.

Shares of NASDAQ:ULTA traded up $27.92 during trading on Monday, hitting $263.94. The company had a trading volume of 443,409 shares, compared to its average volume of 1,079,680. The stock has a market cap of $13.76 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.11. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.80 and a quick ratio of 0.57. The company has a fifty day simple moving average of $238.51 and a two-hundred day simple moving average of $292.83. Ulta Beauty has a one year low of $222.00 and a one year high of $368.83.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $2.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.12. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. Ulta Beauty had a return on equity of 37.04% and a net margin of 9.86%. Ulta Beauty’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.18 EPS. On average, equities research analysts anticipate that Ulta Beauty will post 11.76 earnings per share for the current year.

In other news, Director Charles Heilbronn bought 70,009 shares of Ulta Beauty stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $248.66 per share, for a total transaction of $17,408,437.94. Following the completion of the acquisition, the director now owns 60,368 shares of the company’s stock, valued at approximately $15,011,106.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary N. Dillon bought 1,300 shares of Ulta Beauty stock in a transaction on Thursday, September 26th. The stock was purchased at an average price of $237.17 per share, with a total value of $308,321.00. Following the completion of the acquisition, the chief executive officer now directly owns 79,256 shares of the company’s stock, valued at approximately $18,797,145.52. The disclosure for this purchase can be found here. Insiders purchased 186,567 shares of company stock valued at $44,964,903 in the last three months. 4.20% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Sterling Investment Advisors Ltd. purchased a new stake in Ulta Beauty during the third quarter valued at approximately $25,000. Commonwealth Bank of Australia boosted its position in shares of Ulta Beauty by 79.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 86 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 38 shares in the last quarter. San Francisco Sentry Investment Group CA boosted its position in shares of Ulta Beauty by 3,900.0% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 120 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 117 shares in the last quarter. Next Capital Management LLC grew its stake in Ulta Beauty by 206.7% during the 2nd quarter. Next Capital Management LLC now owns 92 shares of the specialty retailer’s stock worth $32,000 after buying an additional 62 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in Ulta Beauty during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

About Ulta Beauty

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

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