Lululemon Athletica (NASDAQ:LULU) Shares Up 6.2% – Time to Buy?

Lululemon Athletica Inc. (NASDAQ:LULU) shares shot up 6.2% on Friday . The stock traded as high as $268.28 and last traded at $271.62. 6,826,466 shares were traded during mid-day trading, an increase of 210% from the average session volume of 2,204,607 shares. The stock had previously closed at $255.65.

Analyst Ratings Changes

LULU has been the topic of several research analyst reports. Truist Financial lowered their price target on shares of Lululemon Athletica from $460.00 to $380.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Sanford C. Bernstein raised Lululemon Athletica from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $360.00 to $460.00 in a report on Tuesday, January 7th. KeyCorp reduced their price target on Lululemon Athletica from $420.00 to $400.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Wells Fargo & Company lowered their price objective on Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Finally, Guggenheim boosted their target price on shares of Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $378.31.

Lululemon Athletica Stock Performance

The stock’s fifty day simple moving average is $356.31 and its two-hundred day simple moving average is $339.48. The stock has a market capitalization of $32.11 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.85 by $0.29. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.29 earnings per share. As a group, analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Institutional Trading of Lululemon Athletica

Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Lululemon Athletica by 95.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock worth $1,854,160,000 after purchasing an additional 2,371,079 shares during the period. Alliancebernstein L.P. lifted its holdings in Lululemon Athletica by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after buying an additional 571,657 shares during the period. Geode Capital Management LLC lifted its holdings in Lululemon Athletica by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer’s stock valued at $947,682,000 after buying an additional 10,461 shares during the period. Capital World Investors boosted its position in Lululemon Athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock valued at $827,338,000 after acquiring an additional 556,406 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Lululemon Athletica by 31.0% during the 4th quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock worth $681,163,000 after acquiring an additional 421,890 shares during the period. 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.