Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $400.00

Lululemon Athletica (NASDAQ:LULU) had its target price raised by KeyCorp from $350.00 to $400.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the apparel retailer’s stock.

A number of other equities research analysts also recently commented on the company. Raymond James lifted their target price on Lululemon Athletica from $320.00 to $355.00 in a report on Thursday. Piper Sandler lifted their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Wells Fargo & Company cut their price objective on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. Truist Financial upped their price target on shares of Lululemon Athletica from $310.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Bank of America lowered their target price on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus price target of $374.17.

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $399.60 on Friday. The firm has a market capitalization of $49.06 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.50 and a beta of 1.23. The stock’s 50-day simple moving average is $305.79 and its 200-day simple moving average is $287.98. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.53 earnings per share. As a group, equities analysts forecast that Lululemon Athletica will post 13.93 earnings per share for the current year.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lululemon Athletica

A number of hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. increased its position in shares of Lululemon Athletica by 105.6% during the second quarter. Mather Group LLC. now owns 255 shares of the apparel retailer’s stock worth $76,000 after acquiring an additional 131 shares during the period. CWM LLC increased its holdings in Lululemon Athletica by 21.4% during the 2nd quarter. CWM LLC now owns 2,896 shares of the apparel retailer’s stock worth $865,000 after purchasing an additional 510 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in Lululemon Athletica by 18.6% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 779 shares of the apparel retailer’s stock valued at $233,000 after purchasing an additional 122 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Lululemon Athletica in the 2nd quarter valued at about $86,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Lululemon Athletica by 273.5% during the second quarter. Hexagon Capital Partners LLC now owns 127 shares of the apparel retailer’s stock worth $38,000 after buying an additional 93 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Company Profile

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.