Ulta Beauty (ULTA) Given a $312.00 Price Target at Piper Jaffray Companies

Piper Jaffray Companies set a $312.00 price objective on Ulta Beauty (NASDAQ:ULTA) in a research report released on Thursday morning, The Fly reports. The brokerage currently has a buy rating on the specialty retailer’s stock. Piper Jaffray Companies also issued estimates for Ulta Beauty’s Q3 2019 earnings at $2.16 EPS, Q1 2020 earnings at $3.17 EPS, Q2 2020 earnings at $2.98 EPS, Q3 2020 earnings at $2.59 EPS, Q1 2021 earnings at $3.67 EPS, Q2 2021 earnings at $3.46 EPS and Q3 2021 earnings at $3.02 EPS.

ULTA has been the subject of a number of other research reports. Wells Fargo & Co set a $278.00 price target on shares of Ulta Beauty and gave the stock a buy rating in a research note on Monday, August 20th. Zacks Investment Research upgraded shares of Ulta Beauty from a hold rating to a buy rating and set a $286.00 price target for the company in a research note on Tuesday, July 17th. Jefferies Financial Group set a $285.00 price target on shares of Ulta Beauty and gave the stock a buy rating in a research note on Monday, July 30th. UBS Group decreased their price target on shares of Ulta Beauty from $290.00 to $285.00 and set a buy rating for the company in a research note on Friday, August 31st. Finally, BidaskClub upgraded shares of Ulta Beauty from a hold rating to a buy rating in a research note on Tuesday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $280.40.

Shares of NASDAQ ULTA traded up $3.76 during midday trading on Thursday, hitting $308.25. The company’s stock had a trading volume of 103,946 shares, compared to its average volume of 911,844. Ulta Beauty has a 1 year low of $191.70 and a 1 year high of $308.88. The firm has a market cap of $17.44 billion, a price-to-earnings ratio of 37.76, a PEG ratio of 1.46 and a beta of 0.60.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, August 30th. The specialty retailer reported $2.46 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. As a group, analysts forecast that Ulta Beauty will post 10.85 EPS for the current fiscal year.

In other Ulta Beauty news, Director Catherine Ann Halligan sold 129 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $281.50, for a total transaction of $36,313.50. Following the sale, the director now owns 3,628 shares of the company’s stock, valued at $1,021,282. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis K. Eck sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $287.15, for a total transaction of $10,050,250.00. Following the sale, the director now directly owns 361,294 shares in the company, valued at approximately $103,745,572.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,407 shares of company stock worth $19,580,698. 5.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ULTA. Alliancebernstein L.P. increased its holdings in shares of Ulta Beauty by 4.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,686,897 shares of the specialty retailer’s stock valued at $758,027,000 after acquiring an additional 109,978 shares during the period. FMR LLC increased its holdings in shares of Ulta Beauty by 24.0% in the 2nd quarter. FMR LLC now owns 948,576 shares of the specialty retailer’s stock valued at $221,454,000 after acquiring an additional 183,611 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Ulta Beauty by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 847,947 shares of the specialty retailer’s stock valued at $239,223,000 after acquiring an additional 20,257 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Ulta Beauty by 4.1% in the 2nd quarter. Wells Fargo & Company MN now owns 743,233 shares of the specialty retailer’s stock valued at $173,515,000 after acquiring an additional 29,590 shares during the period. Finally, NN Investment Partners Holdings N.V. increased its holdings in shares of Ulta Beauty by 6.7% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 679,652 shares of the specialty retailer’s stock valued at $158,670,000 after acquiring an additional 42,710 shares during the period. 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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