Analysts Set Lululemon Athletica Inc. (NASDAQ:LULU) Price Target at $357.13

Lululemon Athletica Inc. (NASDAQ:LULU) has received an average recommendation of “Moderate Buy” from the thirty-one ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $357.13.

LULU has been the topic of several recent analyst reports. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Lululemon Athletica in a research note on Monday, August 26th. Bank of America dropped their price target on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Citigroup decreased their price objective on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. 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 report on Monday, August 26th. Finally, Barclays decreased their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th.

Insider Activity

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. The trade was a 4.66 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lululemon Athletica

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position 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 purchasing an additional 43 shares during the period. Versant Capital Management Inc boosted its stake in Lululemon Athletica by 61.5% during the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after buying an additional 40 shares in the last quarter. Paladin Wealth LLC bought a new stake in Lululemon Athletica in the 3rd quarter valued at $29,000. Ridgewood Investments LLC acquired a new position in shares of Lululemon Athletica in the 2nd quarter valued at $33,000. Finally, Dnca Finance bought a new position in shares of Lululemon Athletica during the 2nd quarter worth about $34,000. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $330.26 on Tuesday. The company has a market capitalization of $40.55 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. The stock has a fifty day moving average of $283.50 and a 200-day moving average of $290.42. Lululemon Athletica has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 earnings per share. As a group, research analysts forecast that Lululemon Athletica will post 14.02 EPS for the current fiscal year.

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.