Morgan Stanley Boosts Lululemon Athletica (NASDAQ:LULU) Price Target to $345.00

Lululemon Athletica (NASDAQ:LULU) had its target price lifted by equities researchers at Morgan Stanley from $314.00 to $345.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective indicates a potential upside of 7.97% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Bank of America cut their target price on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Piper Sandler raised their target price on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Needham & Company LLC initiated coverage on Lululemon Athletica in a report on Friday, November 22nd. They issued a “hold” rating for the company. Wells Fargo & Company cut their target price on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and an average price target of $356.03.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $319.52 on Tuesday. The company has a market capitalization of $39.23 billion, a PE ratio of 24.69, a P/E/G ratio of 2.38 and a beta of 1.24. The company has a 50 day simple moving average of $295.06 and a two-hundred day simple moving average of $287.84. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

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

Insider Buying and Selling

In other news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The trade was a 4.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was 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 owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LULU. Advisors Asset Management Inc. increased its stake in Lululemon Athletica by 6.9% in the 1st quarter. Advisors Asset Management Inc. now owns 1,433 shares of the apparel retailer’s stock worth $560,000 after acquiring an additional 92 shares during the last quarter. Caxton Associates LP bought a new stake in Lululemon Athletica during the 1st quarter valued at $345,000. B. Riley Wealth Advisors Inc. raised its position in shares of Lululemon Athletica by 30.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,543 shares of the apparel retailer’s stock worth $2,909,000 after acquiring an additional 1,748 shares in the last quarter. Tidal Investments LLC raised its position in shares of Lululemon Athletica by 655.9% in the 1st quarter. Tidal Investments LLC now owns 8,194 shares of the apparel retailer’s stock worth $3,201,000 after acquiring an additional 7,110 shares in the last quarter. Finally, Beacon Capital Management LLC raised its position in shares of Lululemon Athletica by 31.1% in the 1st quarter. Beacon Capital Management LLC now owns 194 shares of the apparel retailer’s stock worth $76,000 after acquiring an additional 46 shares in the last quarter. 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.