Robert W. Baird Boosts Ulta Beauty (ULTA) Price Target to $320.00

Ulta Beauty (NASDAQ:ULTA) had its price target hoisted by research analysts at Robert W. Baird from $295.00 to $320.00 in a report issued on Monday, The Fly reports. The brokerage currently has an “outperform” rating on the specialty retailer’s stock. Robert W. Baird’s price objective suggests a potential upside of 12.29% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Telsey Advisory Group boosted their price target on shares of Ulta Beauty from $290.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. BidaskClub raised shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Loop Capital reissued a “hold” rating and set a $280.00 price target (up previously from $250.00) on shares of Ulta Beauty in a research report on Thursday, September 13th. Finally, Stifel Nicolaus lowered their price target on shares of Ulta Beauty from $245.00 to $235.00 and set a “hold” rating on the stock in a research report on Friday, August 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Ulta Beauty has a consensus rating of “Buy” and a consensus target price of $272.76.

Shares of NASDAQ:ULTA traded up $3.03 during midday trading on Monday, reaching $284.98. 42,435 shares of the company were exchanged, compared to its average volume of 869,113. Ulta Beauty has a one year low of $191.70 and a one year high of $290.30. The firm has a market cap of $16.85 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 1.40 and a beta of 0.60.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, August 30th. The specialty retailer reported $2.46 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 during 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 year.

In other Ulta Beauty news, Director Dennis K. Eck sold 35,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $287.15, for a total value of $10,050,250.00. Following the transaction, the director now owns 361,294 shares of the company’s stock, valued at $103,745,572.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis K. Eck sold 31,278 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $285.88, for a total transaction of $8,941,754.64. Following the completion of the transaction, the director now directly owns 334,778 shares in the company, valued at approximately $95,706,334.64. The disclosure for this sale can be found here. Insiders sold 68,407 shares of company stock worth $19,580,698 in the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its position in Ulta Beauty by 1.2% in the third quarter. State of Alaska Department of Revenue now owns 17,660 shares of the specialty retailer’s stock valued at $4,980,000 after buying an additional 203 shares during the last quarter. First National Bank of Omaha lifted its position in Ulta Beauty by 0.5% in the second quarter. First National Bank of Omaha now owns 43,749 shares of the specialty retailer’s stock valued at $7,303,000 after buying an additional 223 shares during the last quarter. Atria Investments LLC lifted its position in Ulta Beauty by 3.5% in the third quarter. Atria Investments LLC now owns 6,946 shares of the specialty retailer’s stock valued at $1,960,000 after buying an additional 234 shares during the last quarter. Huntington National Bank lifted its position in Ulta Beauty by 120.0% in the second quarter. Huntington National Bank now owns 440 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 240 shares during the last quarter. Finally, Wendell David Associates Inc. lifted its position in Ulta Beauty by 7.8% in the third quarter. Wendell David Associates Inc. now owns 3,335 shares of the specialty retailer’s stock valued at $941,000 after buying an additional 240 shares during the last quarter. 90.66% of the stock is currently owned by institutional investors.

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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The Fly

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