Ulta Beauty (ULTA) Upgraded by Morgan Stanley to “Overweight”

Morgan Stanley upgraded shares of Ulta Beauty (NASDAQ:ULTA) from an equal weight rating to an overweight rating in a research note released on Wednesday, MarketBeat.com reports. Morgan Stanley currently has $245.00 price target on the specialty retailer’s stock, up from their prior price target of $235.00. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued reports about the company. Cowen set a $336.00 price objective on Ulta Beauty and gave the stock a buy rating in a research note on Friday, October 20th. Loop Capital set a $300.00 price objective on Ulta Beauty and gave the stock a buy rating in a research note on Sunday, December 3rd. Buckingham Research upgraded Ulta Beauty from a neutral rating to a buy rating and set a $225.00 price objective for the company in a research note on Tuesday, December 19th. They noted that the move was a valuation call. Cleveland Research cut Ulta Beauty from a buy rating to a neutral rating and raised their price objective for the stock from $189.50 to $314.00 in a research note on Thursday, October 12th. Finally, Wells Fargo & Co set a $297.00 price objective on Ulta Beauty and gave the stock a buy rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $262.96.

Ulta Beauty (NASDAQ:ULTA) traded up $0.98 during trading on Wednesday, reaching $244.13. The company’s stock had a trading volume of 1,222,443 shares, compared to its average volume of 1,160,000. Ulta Beauty has a 52 week low of $187.96 and a 52 week high of $314.86. The stock has a market capitalization of $14,890.00, a PE ratio of 31.22, a PEG ratio of 1.51 and a beta of 0.55.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.03. Ulta Beauty had a return on equity of 29.64% and a net margin of 8.82%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. equities analysts expect that Ulta Beauty will post 8.35 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of ULTA. Schroder Investment Management Group acquired a new stake in Ulta Beauty during the second quarter worth about $4,843,000. Franklin Resources Inc. acquired a new stake in Ulta Beauty during the second quarter worth about $575,000. BT Investment Management Ltd acquired a new stake in Ulta Beauty during the second quarter worth about $542,000. PNC Financial Services Group Inc. grew its holdings in Ulta Beauty by 2.3% during the second quarter. PNC Financial Services Group Inc. now owns 14,389 shares of the specialty retailer’s stock worth $4,135,000 after acquiring an additional 325 shares during the period. Finally, Thrivent Financial For Lutherans grew its holdings in Ulta Beauty by 5.1% during the second quarter. Thrivent Financial For Lutherans now owns 24,020 shares of the specialty retailer’s stock worth $6,902,000 after acquiring an additional 1,170 shares during the period. 88.72% of the stock is currently owned by hedge funds and other institutional investors.

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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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