Ulta Beauty Inc. (ULTA) Stock Rating Reaffirmed by Oppenheimer Holdings, Inc.

Ulta Beauty Inc. (NASDAQ:ULTA)‘s stock had its “market perform” rating reissued by equities researchers at Oppenheimer Holdings, Inc. in a report issued on Monday, July 31st, Marketbeat Ratings reports. They presently have a $330.00 price target on the specialty retailer’s stock, up from their previous price target of $270.00. Oppenheimer Holdings, Inc.’s target price would suggest a potential upside of 35.14% from the stock’s current price. Oppenheimer Holdings also issued estimates for Ulta Beauty’s FY2019 earnings at $9.66 EPS.

A number of other equities research analysts have also commented on the stock. Goldman Sachs Group, Inc. (The) raised shares of Ulta Beauty from a “neutral” rating to a “buy” rating and set a $310.00 price objective on the stock in a research note on Friday, July 14th. Wells Fargo & Company reiterated a “market perform” rating and set a $290.00 target price on shares of Ulta Beauty in a research report on Wednesday, July 5th. Edward Jones downgraded shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Piper Jaffray Companies reiterated an “overweight” rating and set a $314.00 target price on shares of Ulta Beauty in a research report on Monday, May 1st. Finally, BidaskClub downgraded shares of Ulta Beauty from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $319.05.

Ulta Beauty (NASDAQ:ULTA) opened at 244.20 on Monday. Ulta Beauty has a 52 week low of $225.13 and a 52 week high of $314.86. The firm has a 50-day moving average price of $256.00 and a 200-day moving average price of $278.55. The firm has a market capitalization of $15.15 billion, a P/E ratio of 34.29 and a beta of 0.57.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, May 25th. The specialty retailer reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.12. Ulta Beauty had a net margin of 8.75% and a return on equity of 28.91%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $1.45 EPS. The company’s quarterly revenue was up 22.4% on a year-over-year basis. Equities analysts forecast that Ulta Beauty will post $8.32 EPS for the current year.

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In other news, Director Robert F. Diromualdo sold 20,000 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $309.05, for a total value of $6,181,000.00. Following the sale, the director now directly owns 4,717 shares of the company’s stock, valued at $1,457,788.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Catherine Ann Halligan sold 500 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $312.36, for a total transaction of $156,180.00. Following the completion of the sale, the director now directly owns 4,126 shares in the company, valued at $1,288,797.36. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Iberiabank Corp increased its stake 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. Janney Montgomery Scott LLC increased its stake in shares of Ulta Beauty by 8.4% in the first quarter. Janney Montgomery Scott LLC now owns 13,706 shares of the specialty retailer’s stock worth $3,909,000 after buying an additional 1,065 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Ulta Beauty by 0.4% in the first quarter. Principal Financial Group Inc. now owns 94,590 shares of the specialty retailer’s stock worth $26,981,000 after buying an additional 405 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Ulta Beauty by 107.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,120 shares of the specialty retailer’s stock worth $2,601,000 after buying an additional 4,715 shares in the last quarter. Finally, Covenant Asset Management LLC increased its stake 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. 85.68% of the stock is currently owned by institutional investors and hedge funds.

About Ulta Beauty

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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