Barclays Raises Lululemon Athletica (NASDAQ:LULU) Price Target to $411.00

Lululemon Athletica (NASDAQ:LULU) had its price target lifted by equities researchers at Barclays from $378.00 to $411.00 in a report released on Thursday, Marketbeat.com reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Barclays‘s target price suggests a potential upside of 9.98% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. UBS Group upped their price target on Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. TD Cowen upped their price objective on shares of Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. Wells Fargo & Company lifted their target price on shares of Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a report on Wednesday. Jefferies Financial Group reissued an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a report on Monday, December 2nd. Finally, Truist Financial lifted their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus price target of $390.33.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $373.70 on Thursday. The company’s fifty day moving average is $361.31 and its two-hundred day moving average is $304.04. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $491.30. The company has a market capitalization of $45.51 billion, a P/E ratio of 26.98, a PEG ratio of 2.71 and a beta of 1.18.

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

Insiders Place Their Bets

In related 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 value of $10,085,779.80. Following the sale, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at $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 corporate insiders.

Hedge Funds Weigh In On Lululemon Athletica

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in shares of Lululemon Athletica by 74,856.2% in the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after buying an additional 894,531 shares during the period. Maverick Capital Ltd. acquired a new stake in Lululemon Athletica during the third quarter worth about $93,476,000. The Manufacturers Life Insurance Company raised its holdings in shares of Lululemon Athletica by 136.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after purchasing an additional 305,302 shares during the period. Southpoint Capital Advisors LP acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at about $81,405,000. Finally, River Road Asset Management LLC purchased a new stake in shares of Lululemon Athletica during the 3rd quarter worth about $79,503,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.