Ulta Beauty (NASDAQ:ULTA) Reaches New 1-Year Low – Here’s Why

Ulta Beauty, Inc. (NASDAQ:ULTA)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $317.70 and last traded at $318.12, with a volume of 542505 shares changing hands. The stock had previously closed at $329.23.

Wall Street Analyst Weigh In

Several brokerages have commented on ULTA. Bank of America raised their price objective on shares of Ulta Beauty from $460.00 to $475.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Telsey Advisory Group reissued an “outperform” rating and issued a $500.00 price target on shares of Ulta Beauty in a research report on Monday. Piper Sandler raised their price objective on Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. TD Cowen boosted their target price on Ulta Beauty from $450.00 to $480.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Finally, Citigroup increased their target price on Ulta Beauty from $450.00 to $457.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Ulta Beauty has a consensus rating of “Hold” and an average price target of $459.22.

Ulta Beauty Price Performance

The company has a market capitalization of $14.59 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The firm’s 50-day moving average is $388.78 and its 200-day moving average is $387.32.

Institutional Investors Weigh In On Ulta Beauty

Several hedge funds and other institutional investors have recently modified their holdings of ULTA. Capital World Investors bought a new stake in Ulta Beauty during the fourth quarter valued at about $430,674,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Ulta Beauty during the 3rd quarter valued at about $359,480,000. Norges Bank bought a new position in shares of Ulta Beauty during the 4th quarter valued at approximately $239,432,000. Marshall Wace LLP increased its holdings in Ulta Beauty by 10,336.7% in the 4th quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer’s stock worth $199,681,000 after acquiring an additional 454,711 shares in the last quarter. Finally, Holocene Advisors LP raised its stake in Ulta Beauty by 3,246.2% during the 3rd quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock worth $134,737,000 after acquiring an additional 335,914 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

About Ulta Beauty

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.