Piper Jaffray Companies Downgrades Ulta Beauty Inc. (ULTA) to Neutral

Ulta Beauty Inc. (NASDAQ:ULTA) was downgraded by equities researchers at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, October 18th, Marketbeat Ratings reports. They presently have a $210.00 target price on the specialty retailer’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 5.56% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Jefferies Group LLC set a $350.00 price target on Ulta Beauty and gave the company a “buy” rating in a research report on Monday, August 14th. Stifel Nicolaus reduced their price target on Ulta Beauty from $325.00 to $270.00 and set a “hold” rating on the stock in a research report on Monday, August 21st. Morgan Stanley reduced their price target on Ulta Beauty from $313.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Monday, August 28th. Robert W. Baird set a $335.00 price objective on Ulta Beauty and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Finally, KeyCorp reissued a “buy” rating and issued a $300.00 price objective (down from $330.00) on shares of Ulta Beauty in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $272.12.

Shares of Ulta Beauty (ULTA) traded down 0.79% on Wednesday, hitting $198.93. 953,247 shares of the stock traded hands. Ulta Beauty has a one year low of $187.96 and a one year high of $314.86. The company’s 50 day moving average is $215.07 and its 200 day moving average is $257.16. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 26.48 and a beta of 0.57.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. Ulta Beauty had a return on equity of 29.33% and a net margin of 8.84%. Ulta Beauty’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 EPS. On average, equities analysts forecast that Ulta Beauty will post $8.38 EPS for the current year.

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In related news, Director Charles Heilbronn bought 127,889 shares of the company’s stock in a transaction on Friday, October 13th. The shares were purchased at an average price of $195.21 per share, for a total transaction of $24,965,211.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael R. Macdonald bought 2,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were bought at an average price of $208.37 per share, for a total transaction of $416,740.00. Following the transaction, the director now owns 6,224 shares of the company’s stock, valued at $1,296,894.88. The disclosure for this purchase can be found here. 5.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Iberiabank Corp raised its position in shares of Ulta Beauty by 9.2% in the second quarter. Iberiabank Corp now owns 4,549 shares of the specialty retailer’s stock worth $1,307,000 after buying an additional 383 shares in the last quarter. Covenant Asset Management LLC raised its position in shares of Ulta Beauty by 1.9% in the second quarter. Covenant Asset Management LLC now owns 3,676 shares of the specialty retailer’s stock worth $1,056,000 after buying an additional 70 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ulta Beauty by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 214,001 shares of the specialty retailer’s stock worth $61,039,000 after buying an additional 5,854 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Ulta Beauty in the second quarter worth $552,000. Finally, CIBC World Markets Inc. raised its position in shares of Ulta Beauty by 63.0% in the second quarter. CIBC World Markets Inc. now owns 9,994 shares of the specialty retailer’s stock worth $2,872,000 after buying an additional 3,861 shares in the last quarter. Institutional investors own 87.65% of the company’s stock.

Ulta Beauty Company Profile

Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.

Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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