Lululemon Athletica (NASDAQ:LULU) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of Lululemon Athletica (NASDAQ:LULU) from a hold rating to a buy rating in a research note published on Friday, Marketbeat.com reports. The firm currently has $475.00 price target on the apparel retailer’s stock.

Several other research firms also recently weighed in on LULU. TD Securities lifted their target price on Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price objective on Lululemon Athletica from $345.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on Lululemon Athletica from $425.00 to $428.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Truist Financial raised their target price on shares of Lululemon Athletica from $360.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Guggenheim upped their price target on shares of Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $382.73.

Lululemon Athletica Stock Up 0.6 %

Lululemon Athletica stock opened at $395.47 on Friday. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $491.30. The company has a market cap of $48.16 billion, a P/E ratio of 28.55, a P/E/G ratio of 2.78 and a beta of 1.18. The business has a 50-day simple moving average of $355.92 and a two-hundred day simple moving average of $301.79.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the business posted $2.53 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts anticipate that Lululemon Athletica will post 14.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 12,429 shares of the company’s stock, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the transaction, the insider now 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 currently owned by insiders.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently modified their holdings of the business. Paladin Wealth LLC bought a new stake in shares of Lululemon Athletica during the third quarter worth $29,000. HHM Wealth Advisors LLC boosted its position in Lululemon Athletica by 66.7% in the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 46 shares during the period. JFS Wealth Advisors LLC grew its stake in Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 65 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Lululemon Athletica during the second quarter worth approximately $36,000. Finally, Armstrong Advisory Group Inc. raised its stake in shares of Lululemon Athletica by 110.1% during the third quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock valued at $39,000 after acquiring an additional 76 shares in the last quarter. 85.20% of the stock is 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.