Raymond James Reaffirms Outperform Rating for Lululemon Athletica (NASDAQ:LULU)

Lululemon Athletica (NASDAQ:LULU)‘s stock had its “outperform” rating reiterated by equities research analysts at Raymond James in a note issued to investors on Wednesday,Benzinga reports. They presently have a $430.00 target price on the apparel retailer’s stock, up from their prior target price of $400.00. Raymond James’ target price would indicate a potential upside of 15.91% from the company’s current price.

Several other equities analysts have also issued reports on LULU. KeyCorp boosted their price target on Lululemon Athletica from $350.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Barclays boosted their price objective on Lululemon Athletica from $261.00 to $378.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Wells Fargo & Company raised their target price on Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Piper Sandler boosted their price target on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Guggenheim raised their price objective on shares of Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $390.33.

Lululemon Athletica Stock Down 1.5 %

Shares of LULU stock opened at $370.99 on Wednesday. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $491.30. The firm has a market cap of $45.18 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.71 and a beta of 1.18. The stock has a 50 day moving average of $360.19 and a 200-day moving average of $303.57.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.53 EPS. As a group, equities analysts predict that Lululemon Athletica will post 14.18 EPS for the current fiscal year.

Insider Activity at Lululemon Athletica

In related news, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now directly owns 12,429 shares in the company, valued at $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This 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 company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Paladin Wealth LLC bought a new position in Lululemon Athletica during the third quarter worth about $29,000. JFS Wealth Advisors LLC raised its position in shares of Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 65 shares during the period. Armstrong Advisory Group Inc. raised its position in shares of Lululemon Athletica by 110.1% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock valued at $39,000 after acquiring an additional 76 shares during the period. Asset Dedication LLC boosted its stake in Lululemon Athletica by 402.1% during the 3rd quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock worth $64,000 after acquiring an additional 189 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in Lululemon Athletica during the fourth quarter valued at approximately $95,000. 85.20% of the stock is currently owned by institutional investors.

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.