Oppenheimer Trims Ulta Beauty (NASDAQ:ULTA) Price Target at $435.00

VaselineAugust 30, 2024

0 4 minutes read

Ulta Beauty (NASDAQ:ULTA – Get a Free Report) had its price target reduced by analysts at Oppenheimer from $450.00 to $435.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s price objective indicates a potential upside of 18.34% from the stock’s previous close.

Other research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Ulta Beauty from $565.00 to $475.00 and set a “hold” rating for the company in a report on Tuesday, May 14th. Jefferies Financial Group decreased their price target on shares of Ulta Beauty from $438.00 to $412.00 and set a “hold” rating for the company in a report on Friday, May 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ulta Beauty from $552.00 to $448.00 and set a “buy” rating for the company in a report on Wednesday. Goldman Sachs Group cut their price target on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, StockNews.com upgraded shares of Ulta Beauty from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Ulta Beauty currently has an average rating of “Moderate Buy” and a consensus price target of $470.65.

Read our latest report on ULTA

Ulta Beauty Price Performance

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Shares of ULTA opened at $367.58 on Friday. The company’s 50-day moving average is $373.05 and its 200-day moving average is $427.73. The stock has a market cap of $17.54 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.75 and a beta of 1.37. Ulta Beauty has a 12-month low of $318.17 and a 12-month high of $574.76.

Ulta Beauty (NASDAQ:ULTA – Get Your Free Report ) last announced its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the firm earned $6.02 EPS. The company’s revenue for the quarter was up 0.9% on a year-over-year basis. As a group, equities research analysts forecast that Ulta Beauty will post 25.48 EPS for the current fiscal year.

Insider Deals at Ulta Beauty

In other news, Director Catherine Ann Halligan sold 100 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the completion of the sale, the director now directly owns 2,017 shares in the company, valued at $786,791.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. In other news, Director Catherine Ann Halligan sold 100 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the completion of the sale, the director now directly owns 2,017 shares in the company, valued at $786,791.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Also, insider Jodi J. Caro sold 650 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total transaction of $252,642.00. Following the completion of the sale, the insider now owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The disclosure for this sale can be found here. 0.39% of shares are held by corporate insiders.

Hedge funds influence Ulta Beauty

Large investors have recently bought and sold shares of the stock. UMB Bank na grew its stake in Ulta Beauty by 83.3% in the 2nd quarter. UMB Bank na now owns 66 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 30 shares in the the last quarter. Vima LLC acquired a new position in shares of Ulta Beauty in the 4th quarter valued at $27,000. Riverview Trust Co purchased a new position in shares of Ulta Beauty in the first quarter valued at $30,000. Sound Income Strategies LLC boosted its stake in Ulta Beauty by 490.0% in the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Ulta Beauty in the first quarter valued at $31,000. 90.39% of shares are currently owned by institutional investors and hedge funds.

About Ulta Beauty

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Ulta Beauty, Inc. operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products including cosmetics, fragrances, hair care, skin care, bath and body products, professional hair products and salon styling tools through its Ulta Beauty stores, , the Ulta.com website and its mobile apps.