Piper Jaffray Companies Reiterates Overweight Rating for Ulta Beauty Inc. (ULTA)

Piper Jaffray Companies reiterated their overweight rating on shares of Ulta Beauty Inc. (NASDAQ:ULTA) in a research report report published on Friday. They currently have a $330.00 price objective on the specialty retailer’s stock.

ULTA has been the topic of a number of other reports. Zacks Investment Research raised shares of Ulta Beauty from a hold rating to a buy rating and set a $329.00 price target on the stock in a research report on Monday, May 22nd. Loop Capital raised shares of Ulta Beauty from a hold rating to a buy rating and raised their target price for the company from $285.00 to $350.00 in a report on Monday, April 10th. Instinet raised their target price on shares of Ulta Beauty from $297.00 to $320.00 and gave the company a buy rating in a report on Monday, March 20th. BidaskClub lowered shares of Ulta Beauty from a hold rating to a sell rating in a report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $330.00 target price (up from $315.00) on shares of Ulta Beauty in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $322.21.

Ulta Beauty (NASDAQ:ULTA) traded up 1.89% during mid-day trading on Friday, reaching $258.75. 1,600,600 shares of the company were exchanged. Ulta Beauty has a 12-month low of $225.13 and a 12-month high of $314.86. The company’s 50 day moving average price is $297.02 and its 200-day moving average price is $280.25. The stock has a market capitalization of $16.05 billion, a price-to-earnings ratio of 36.34 and a beta of 0.59.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, May 25th. The specialty retailer reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.12. Ulta Beauty had a net margin of 8.75% and a return on equity of 28.91%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm earned $1.45 earnings per share. Ulta Beauty’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, equities research analysts forecast that Ulta Beauty will post $8.32 earnings per share for the current fiscal year.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Wendell David Associates Inc. increased its position in shares of Ulta Beauty by 1.3% in the second quarter. Wendell David Associates Inc. now owns 1,291 shares of the specialty retailer’s stock worth $371,000 after buying an additional 16 shares during the period. Balasa Dinverno & Foltz LLC increased its position in shares of Ulta Beauty by 1.9% in the first quarter. Balasa Dinverno & Foltz LLC now owns 989 shares of the specialty retailer’s stock worth $282,000 after buying an additional 18 shares during the period. Trust Investment Advisors increased its position in shares of Ulta Beauty by 0.7% in the first quarter. Trust Investment Advisors now owns 3,865 shares of the specialty retailer’s stock worth $1,102,000 after buying an additional 25 shares during the period. Cleararc Capital Inc. increased its position in shares of Ulta Beauty by 1.9% in the first quarter. Cleararc Capital Inc. now owns 1,448 shares of the specialty retailer’s stock worth $413,000 after buying an additional 27 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Ulta Beauty by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 1,890 shares of the specialty retailer’s stock worth $539,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 85.37% 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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