Robert W. Baird Issues Positive Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price objective upped by Robert W. Baird from $350.00 to $380.00 in a research report released on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the apparel retailer’s stock.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their price objective on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Bank of America reduced their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Truist Financial increased their target price on Lululemon Athletica from $310.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Telsey Advisory Group dropped their target price on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research report on Monday, August 26th. Finally, Wedbush dropped their target price on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average target price of $357.13.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $308.53 on Wednesday. The business’s 50 day moving average price is $279.60 and its 200-day moving average price is $291.78. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The company has a market cap of $37.88 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.28 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the business posted $2.68 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts predict that Lululemon Athletica will post 14.02 earnings per share for the current year.

Insider Buying and Selling at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the purchase, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds have recently made changes to their positions in LULU. Larson Financial Group LLC raised its holdings in shares of Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 43 shares during the last quarter. Paladin Wealth LLC purchased a new stake in shares of Lululemon Athletica in the third quarter valued at approximately $29,000. Versant Capital Management Inc grew its position in shares of Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 40 shares in the last quarter. JFS Wealth Advisors LLC grew its position in shares of Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 65 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Lululemon Athletica in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

About Lululemon Athletica

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.