Ulta Beauty (NASDAQ:ULTA) Price Target Lowered to $350.00 at Wells Fargo & Company

Ulta Beauty (NASDAQ:ULTA – Get Rating) had its target price cut by equities research analysts at Wells Fargo & Company from $400.00 to $350.00 in a report released on Friday, The Fly reports. Wells Fargo & Company‘s price target points to a potential downside of 27.85% from the stock’s current price.

Several other equities research analysts also recently weighed in on ULTA. StockNews.com raised shares of Ulta Beauty from a “hold” rating to a “buy” rating in a research report on Monday. Oppenheimer cut their target price on shares of Ulta Beauty from $600.00 to $575.00 and set an “outperform” rating for the company in a research report on Friday, May 19th. Raymond James lifted their target price on shares of Ulta Beauty from $600.00 to $615.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $575.00 target price on shares of Ulta Beauty in a research report on Monday, March 6th. Finally, BMO Capital Markets lifted their target price on shares of Ulta Beauty from $390.00 to $510.00 and gave the stock a “market perform” rating in a research report on Friday, March 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ulta Beauty has an average rating of “Moderate Buy” and a consensus price target of $553.16.

Ulta Beauty Stock Up 0.8 %

Shares of ULTA opened at $485.12 on Friday. The company has a market capitalization of $24.30 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.55 and a beta of 1.31. The firm has a 50 day moving average of $522.33 and a 200 day moving average of $498.37. Ulta Beauty has a twelve month low of $360.58 and a twelve month high of $556.60.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last announced its quarterly earnings results on Thursday, May 25th. The specialty retailer reported $6.88 earnings per share for the quarter, beating the consensus estimate of $6.75 by $0.13. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. Ulta Beauty had a net margin of 12.17% and a return on equity of 67.19%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.30 earnings per share. On average, sell-side analysts expect that Ulta Beauty will post 25.27 EPS for the current year.

Insider Activity at Ulta Beauty

In related news, insider Anita Jane Ryan sold 1,255 shares of Ulta Beauty stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $544.69, for a total transaction of $683,585.95. Following the transaction, the insider now owns 2,491 shares in the company, valued at approximately $1,356,822.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Ulta Beauty news, insider Jodi J. Caro sold 4,500 shares of the business’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $506.65, for a total value of $2,279,925.00. Following the sale, the insider now owns 5,231 shares in the company, valued at approximately $2,650,286.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anita Jane Ryan sold 1,255 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $544.69, for a total transaction of $683,585.95. Following the completion of the sale, the insider now owns 2,491 shares in the company, valued at approximately $1,356,822.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,355 shares of company stock worth $3,821,507. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Ulta Beauty

Several hedge funds have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. lifted its stake in Ulta Beauty by 3.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 575 shares of the specialty retailer’s stock worth $314,000 after purchasing an additional 19 shares in the last quarter. Csenge Advisory Group lifted its stake in Ulta Beauty by 1.3% in the 1st quarter. Csenge Advisory Group now owns 1,488 shares of the specialty retailer’s stock worth $812,000 after purchasing an additional 19 shares in the last quarter. Institute for Wealth Management LLC. lifted its stake in Ulta Beauty by 1.8% in the 4th quarter. Institute for Wealth Management LLC. now owns 1,103 shares of the specialty retailer’s stock worth $517,000 after purchasing an additional 20 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Ulta Beauty by 51.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 59 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 20 shares in the last quarter. Finally, Ellevest Inc. raised its position in shares of Ulta Beauty by 10.0% during the 1st quarter. Ellevest Inc. now owns 221 shares of the specialty retailer’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Ulta Beauty Company Profile

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Ulta Beauty, Inc engages in the retail of beauty products. The company has one reportable segment, which includes retail stores, salon services, and e-commerce. Its products include makeup, skin care, tools and brushes, fragrance, and bath and body. Ulta was founded on January 9, 1990, and is headquartered in Bolingbrook, IL.