Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $420.00

Lululemon Athletica (NASDAQ:LULU) had its price objective increased by Truist Financial from $360.00 to $420.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the apparel retailer’s stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus decreased their price target on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Wedbush decreased their target price on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Raymond James raised their price target on shares of Lululemon Athletica from $320.00 to $355.00 in a report on Thursday. TD Securities boosted their price objective on shares of Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Guggenheim dropped their target price on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $374.17.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $399.60 on Friday. The business has a fifty day moving average price of $305.79 and a 200-day moving average price of $287.98. The company has a market capitalization of $49.06 billion, a PE ratio of 28.85, a PEG ratio of 2.50 and a beta of 1.23. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.18. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business’s revenue for the quarter 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. On average, sell-side analysts anticipate that Lululemon Athletica will post 13.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction that occurred on 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 in the company, valued at $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Value Star Asset Management Hong Kong Ltd increased its stake in Lululemon Athletica by 19,890.3% in the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after acquiring an additional 4,630,466 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Lululemon Athletica by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer’s stock valued at $669,036,000 after purchasing an additional 44,294 shares in the last quarter. American Century Companies Inc. increased its position in Lululemon Athletica by 4.9% in the second quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after purchasing an additional 82,731 shares during the last quarter. Legal & General Group Plc raised its stake in Lululemon Athletica by 3.7% during the second quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock valued at $310,763,000 after purchasing an additional 37,239 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Lululemon Athletica by 74,856.2% during the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after purchasing an additional 894,531 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

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.