Lululemon Athletica Inc. (NASDAQ:LULU) Receives $431.94 Average Target Price from Analysts

Shares of Lululemon Athletica Inc. (NASDAQ:LULU) have received an average recommendation of “Moderate Buy” from the thirty-two brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $431.29.

A number of brokerages recently commented on LULU. JPMorgan Chase & Co. decreased their price objective on Lululemon Athletica from $509.00 to $457.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. TD Securities decreased their price objective on Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. The Goldman Sachs Group decreased their price objective on Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Truist Financial decreased their price objective on Lululemon Athletica from $498.00 to $415.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. Finally, KeyCorp decreased their price objective on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd.

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Daymark Wealth Partners LLC lifted its holdings in Lululemon Athletica by 3.8% during the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock valued at $293,000 after buying an additional 21 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in Lululemon Athletica by 1.9% during the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock valued at $612,000 after buying an additional 22 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in Lululemon Athletica by 1.9% during the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after buying an additional 23 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after buying an additional 29 shares in the last quarter. Finally, Herbst Group LLC lifted its holdings in Lululemon Athletica by 1.1% during the 4th quarter. Herbst Group LLC now owns 2,880 shares of the apparel retailer’s stock valued at $1,473,000 after buying an additional 30 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Up 0.6 %

LULU stock opened at $291.06 on Wednesday. The company has a market cap of $36.38 billion, a P/E ratio of 23.34, a PEG ratio of 1.43 and a beta of 1.26. Lululemon Athletica has a twelve month low of $283.49 and a twelve month high of $516.39. The business has a fifty day moving average of $314.15 and a 200-day moving average of $393.74.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.28 earnings per share. As a group, equities research analysts anticipate that Lululemon Athletica will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has authorized a stock buyback plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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.