Lululemon Athletica (NASDAQ:LULU) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Lululemon Athletica (NASDAQ:LULU) had its target price upped by research analysts at Wells Fargo & Company from $350.00 to $375.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.08% from the company’s current price.

LULU has been the topic of several other reports. Piper Sandler increased their target price on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Guggenheim increased their price target on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup raised their price objective on Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Needham & Company LLC raised Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 target price for the company in a research note on Friday, January 10th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $438.00 price target (up previously from $370.00) on shares of Lululemon Athletica in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $390.33.

Lululemon Athletica Stock Down 1.5 %

Lululemon Athletica stock opened at $370.99 on Wednesday. The business’s 50-day moving average price is $360.19 and its 200 day moving average price is $303.57. The firm has a market cap of $45.18 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 2.71 and a beta of 1.18. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $491.30.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the company earned $2.53 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Lululemon Athletica will post 14.18 EPS for the current year.

Insiders Place Their Bets

In related news, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the transaction, the insider now directly owns 12,429 shares in the company, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

Hedge funds have recently modified their holdings of the business. Shepherd Financial Partners LLC acquired a new position in Lululemon Athletica in the third quarter valued at about $953,000. XTX Topco Ltd lifted its holdings in shares of Lululemon Athletica by 281.4% in the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after acquiring an additional 6,562 shares during the last quarter. Rheos Capital Works Inc. boosted its position in shares of Lululemon Athletica by 19.2% during the 3rd quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock worth $4,206,000 after purchasing an additional 2,500 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Lululemon Athletica by 198.8% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock valued at $1,844,000 after purchasing an additional 4,564 shares during the last quarter. Finally, Caxton Associates LP raised its position in Lululemon Athletica by 6,702.7% in the second quarter. Caxton Associates LP now owns 60,000 shares of the apparel retailer’s stock valued at $17,922,000 after purchasing an additional 59,118 shares during the period. 85.20% of the stock is currently owned by hedge funds and other 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.