Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $345.00 at Morgan Stanley

Lululemon Athletica (NASDAQ:LULU) had its price target raised by Morgan Stanley from $314.00 to $345.00 in a report published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the apparel retailer’s stock.

Several other research analysts have also issued reports on LULU. Robert W. Baird lifted their price target on shares of Lululemon Athletica from $350.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Bank of America reduced their target price on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a report on Friday, August 30th. Wedbush dropped their price target on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. UBS Group reduced their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Finally, Truist Financial lifted their target price on shares of Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.13.

Lululemon Athletica Trading Down 2.4 %

Lululemon Athletica stock opened at $318.84 on Tuesday. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $516.39. The stock has a market cap of $39.15 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 2.31 and a beta of 1.24. The company’s 50-day moving average price is $294.07 and its two-hundred day moving average price is $287.62.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating 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 business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. Research analysts expect that Lululemon Athletica will post 14.02 earnings per share for the current fiscal year.

Insider Activity at Lululemon Athletica

In other news, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price 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 in the company, valued at approximately $23,379,720. The trade was a 4.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LULU. Versant Capital Management Inc grew its stake 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 worth $31,000 after acquiring an additional 40 shares during the last quarter. Sunbelt Securities Inc. grew its position in Lululemon Athletica by 4.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 950 shares of the apparel retailer’s stock worth $258,000 after purchasing an additional 42 shares during the last quarter. Rockline Wealth Management LLC increased its holdings in shares of Lululemon Athletica by 1.3% during the 2nd quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer’s stock worth $990,000 after purchasing an additional 43 shares during the period. Larson Financial Group LLC raised 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 buying an additional 43 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its stake in shares of Lululemon Athletica by 31.1% in the first quarter. Beacon Capital Management LLC now owns 194 shares of the apparel retailer’s stock valued at $76,000 after buying an additional 46 shares during the period. 85.20% of the stock is owned by institutional investors.

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.