Lululemon Athletica (NASDAQ:LULU) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Lululemon Athletica (NASDAQ:LULU) had its target price boosted by Wells Fargo & Company from $350.00 to $375.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 1.08% from the company’s current price.

A number of other equities research analysts have also issued reports on LULU. Stifel Nicolaus reaffirmed a “buy” rating and issued a $438.00 price target (up previously from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Piper Sandler lifted their price target on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Evercore ISI increased their price objective on shares of Lululemon Athletica from $300.00 to $355.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, Oppenheimer decreased their price objective on shares of Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $390.33.

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $370.99 on Wednesday. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $491.30. The company has a 50 day moving average price of $360.19 and a 200 day moving average price of $303.57. The stock has a market capitalization of $45.18 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 2.71 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping 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 business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.53 earnings per share. On average, research analysts forecast that Lululemon Athletica will post 14.18 EPS for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the completion of the sale, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $2,399,307.78. The trade was 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 company insiders.

Hedge Funds Weigh In On Lululemon Athletica

Hedge funds and other institutional investors have recently bought and sold shares of the company. Paladin Wealth LLC purchased a new position in Lululemon Athletica during the 3rd quarter worth $29,000. JFS Wealth Advisors LLC raised its holdings in Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Armstrong Advisory Group Inc. lifted its position in Lululemon Athletica by 110.1% in the third quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock valued at $39,000 after purchasing an additional 76 shares during the period. Asset Dedication LLC boosted its holdings in Lululemon Athletica by 402.1% in the 3rd quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock valued at $64,000 after purchasing an additional 189 shares in the last quarter. Finally, Avondale Wealth Management acquired a new position in Lululemon Athletica during the 3rd quarter worth approximately $68,000. 85.20% of the stock is currently owned by hedge funds and other 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.