Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $360.00

Ulta Beauty (NASDAQ:ULTA) had its target price boosted by equities researchers at Piper Sandler from $357.00 to $360.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Piper Sandler’s price target would suggest a potential downside of 8.64% from the stock’s previous close.

ULTA has been the subject of several other reports. Citigroup lifted their target price on Ulta Beauty from $345.00 to $390.00 and gave the company a “neutral” rating in a research note on Friday. Bank of America cut their target price on shares of Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday, August 30th. Robert W. Baird cut their price objective on shares of Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating on the stock in a report on Friday, August 23rd. William Blair cut shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $421.71.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA traded up $7.42 during trading on Tuesday, reaching $394.06. The company had a trading volume of 1,215,170 shares, compared to its average volume of 911,348. Ulta Beauty has a 52 week low of $318.17 and a 52 week high of $574.76. The business’s 50 day moving average price is $374.13 and its 200-day moving average price is $376.13. The stock has a market cap of $18.57 billion, a PE ratio of 15.81, a PEG ratio of 2.22 and a beta of 1.33.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ULTA. UMB Bank n.a. grew its holdings in shares of Ulta Beauty by 83.3% in the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 30 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Ulta Beauty during the 2nd quarter worth approximately $32,000. Paladin Wealth LLC bought a new stake in shares of Ulta Beauty during the 3rd quarter worth approximately $32,000. Westside Investment Management Inc. boosted its holdings in shares of Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 50 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Ulta Beauty by 118.4% in the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 45 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

About Ulta Beauty

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.