Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $360.00

Lululemon Athletica (NASDAQ:LULU) had its price objective increased by equities researchers at Truist Financial from $310.00 to $360.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. Truist Financial’s price objective would suggest a potential upside of 14.96% from the company’s previous close.

LULU has been the subject of a number of other research reports. KeyCorp decreased their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Guggenheim reduced their price objective on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Barclays decreased their price objective on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Finally, Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Lululemon Athletica in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $357.13.

Lululemon Athletica Stock Down 1.9 %

Shares of NASDAQ LULU opened at $313.14 on Tuesday. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $516.39. The stock has a market capitalization of $38.45 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.31 and a beta of 1.24. The stock’s fifty day simple moving average is $277.50 and its 200 day simple moving average is $291.99.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the company earned $2.68 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, analysts anticipate that Lululemon Athletica will post 14.02 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Institutional Trading of Lululemon Athletica

Hedge funds have recently bought and sold shares of the stock. Value Star Asset Management Hong Kong Ltd raised its position in shares of Lululemon Athletica by 19,890.3% during the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after buying an additional 4,630,466 shares during the last quarter. International Assets Investment Management LLC raised its holdings in 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 valued at $243,055,000 after acquiring an additional 894,531 shares in the last quarter. River Road Asset Management LLC bought a new stake in shares of Lululemon Athletica in the 3rd quarter worth approximately $79,503,000. Marshall Wace LLP grew its holdings in shares of Lululemon Athletica by 359.4% during the 2nd quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer’s stock worth $61,084,000 after purchasing an additional 283,344 shares in the last quarter. Finally, Swedbank AB increased its position in shares of Lululemon Athletica by 151.0% during the third quarter. Swedbank AB now owns 367,584 shares of the apparel retailer’s stock valued at $99,744,000 after purchasing an additional 221,112 shares during the period. 85.20% of the stock is owned by institutional investors.

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.