Lululemon Athletica (NASDAQ:LULU) Given Outperform Rating at Raymond James

Raymond James reaffirmed their outperform rating on shares of Lululemon Athletica (NASDAQ:LULU) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $430.00 price target on the apparel retailer’s stock, up from their prior price target of $400.00.

Several other brokerages also recently weighed in on LULU. KeyCorp raised their price objective on Lululemon Athletica from $350.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley raised their price target on shares of Lululemon Athletica from $345.00 to $414.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Citigroup upped their price objective on shares of Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. UBS Group raised their target price on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company increased their price target on Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $390.33.

Lululemon Athletica Stock Up 0.7 %

LULU opened at $373.70 on Wednesday. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $491.30. The stock has a market capitalization of $45.51 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.71 and a beta of 1.18. The company has a 50-day simple moving average of $361.31 and a 200 day simple moving average of $304.04.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.36 billion. During the same quarter last year, the business posted $2.53 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts anticipate that Lululemon Athletica will post 14.18 EPS for the current fiscal year.

Insider Activity

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

A number of large investors have recently bought and sold shares of the stock. Galvin Gaustad & Stein LLC raised its holdings in shares of Lululemon Athletica by 13.4% during the fourth quarter. Galvin Gaustad & Stein LLC now owns 85,666 shares of the apparel retailer’s stock valued at $32,760,000 after purchasing an additional 10,141 shares during the period. Adirondack Trust Co. raised its stake in Lululemon Athletica by 6.5% during the 4th quarter. Adirondack Trust Co. now owns 651 shares of the apparel retailer’s stock worth $249,000 after buying an additional 40 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Lululemon Athletica by 20.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 63,491 shares of the apparel retailer’s stock worth $24,280,000 after acquiring an additional 10,780 shares in the last quarter. Westside Investment Management Inc. grew its stake in Lululemon Athletica by 16.7% in the fourth quarter. Westside Investment Management Inc. now owns 350 shares of the apparel retailer’s stock valued at $134,000 after acquiring an additional 50 shares during the period. Finally, Dakota Wealth Management increased its holdings in shares of Lululemon Athletica by 182.7% during the fourth quarter. Dakota Wealth Management now owns 7,080 shares of the apparel retailer’s stock valued at $2,707,000 after acquiring an additional 4,576 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.