Ulta Beauty (NASDAQ:ULTA) Upgraded to “Buy” by Buckingham Research

Ulta Beauty (NASDAQ:ULTA) was upgraded by Buckingham Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, December 19th, Marketbeat reports. The brokerage presently has a $225.00 price target on the specialty retailer’s stock. Buckingham Research’s price objective would indicate a potential downside of 5.20% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other analysts have also issued reports on ULTA. Piper Jaffray Companies reiterated a “buy” rating and issued a $260.00 target price on shares of Ulta Beauty in a research report on Sunday, October 1st. Robert W. Baird set a $295.00 target price on shares of Ulta Beauty and gave the company a “buy” rating in a research report on Sunday, October 1st. Royal Bank of Canada reiterated a “hold” rating on shares of Ulta Beauty in a research report on Wednesday, September 27th. Cowen set a $246.00 target price on shares of Ulta Beauty and gave the company a “buy” rating in a research report on Friday, December 1st. Finally, Jefferies Group set a $300.00 target price on shares of Ulta Beauty and gave the company a “buy” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Ulta Beauty has an average rating of “Buy” and a consensus price target of $261.05.

Shares of Ulta Beauty (ULTA) traded up $4.20 during midday trading on Tuesday, hitting $237.35. 1,090,000 shares of the stock traded hands, compared to its average volume of 1,490,000. Ulta Beauty has a 1-year low of $187.96 and a 1-year high of $314.86. The firm has a market capitalization of $14,480.00, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 1.45 and a beta of 0.55.

Several institutional investors have recently added to or reduced their stakes in ULTA. Wells Fargo & Company MN raised its stake in shares of Ulta Beauty by 137.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,053,780 shares of the specialty retailer’s stock valued at $302,792,000 after acquiring an additional 609,671 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Ulta Beauty by 58.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,390,665 shares of the specialty retailer’s stock valued at $314,378,000 after acquiring an additional 512,315 shares during the period. Alecta Pensionsforsakring Omsesidigt purchased a new stake in shares of Ulta Beauty in the 3rd quarter valued at approximately $83,642,000. Old Mutual Global Investors UK Ltd. raised its stake in shares of 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 acquiring an additional 335,148 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of 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 acquiring an additional 334,198 shares during the period. 88.69% of the stock is currently owned by institutional investors and hedge funds.

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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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