Ulta Beauty (NASDAQ:ULTA) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $245.00 target price on the specialty retailer’s stock, up from their previous target price of $235.00. Morgan Stanley’s target price suggests a potential upside of 0.76% from the company’s previous close. The analysts noted that the move was a valuation call.

ULTA has been the topic of several other research reports. Robert W. Baird set a $265.00 price objective on shares of Ulta Beauty and gave the company a “buy” rating in a research note on Monday, October 23rd. KeyCorp set a $270.00 price objective on shares of Ulta Beauty and gave the company a “buy” rating in a research note on Monday, November 27th. BMO Capital Markets reiterated a “hold” rating and issued a $235.00 price objective on shares of Ulta Beauty in a research note on Thursday, November 2nd. Buckingham Research upgraded shares of Ulta Beauty from a “neutral” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Tuesday, December 19th. They noted that the move was a valuation call. Finally, Cowen set a $336.00 price objective on shares of Ulta Beauty and gave the company a “buy” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $262.96.

Ulta Beauty (ULTA) traded up $4.46 during trading on Wednesday, reaching $243.15. 1,075,300 shares of the company’s stock traded hands, compared to its average volume of 1,156,417. The firm has a market cap of $15,000.00, a price-to-earnings ratio of 31.09, a PEG ratio of 1.47 and a beta of 0.55. Ulta Beauty has a 1 year low of $187.96 and a 1 year high of $314.86.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.03. Ulta Beauty had a net margin of 8.82% and a return on equity of 29.64%. equities research analysts predict that Ulta Beauty will post 8.35 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of ULTA. Ameriprise Financial Inc. boosted its holdings in shares of Ulta Beauty by 58.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,390,665 shares of the specialty retailer’s stock worth $314,378,000 after buying an additional 512,315 shares during the period. Alecta Pensionsforsakring Omsesidigt bought a new stake in Ulta Beauty in the 3rd quarter valued at $83,642,000. Old Mutual Global Investors UK Ltd. boosted its holdings in Ulta Beauty by 173.8% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 527,993 shares of the specialty retailer’s stock valued at $119,358,000 after purchasing an additional 335,148 shares during the period. Renaissance Technologies LLC boosted its holdings in Ulta Beauty by 605.4% in the 2nd quarter. Renaissance Technologies LLC now owns 389,400 shares of the specialty retailer’s stock valued at $111,890,000 after purchasing an additional 334,198 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Ulta Beauty by 162.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 482,329 shares of the specialty retailer’s stock valued at $109,033,000 after purchasing an additional 298,725 shares during the period. 88.72% of the stock is owned by institutional investors and hedge funds.

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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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