Guggenheim Forecasts Strong Price Appreciation for Lululemon Athletica (NASDAQ:LULU) Stock

Lululemon Athletica (NASDAQ:LULU) had its price target raised by investment analysts at Guggenheim from $350.00 to $415.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the apparel retailer’s stock. Guggenheim’s price objective suggests a potential upside of 3.85% from the stock’s current price.

Several other equities research analysts also recently commented on LULU. Needham & Company LLC reaffirmed a “hold” rating on shares of Lululemon Athletica in a research note on Friday. Truist Financial raised their price objective on Lululemon Athletica from $360.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday. Sanford C. Bernstein decreased their target price on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research note on Friday, August 30th. TD Securities increased their price target on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley lifted their price objective on Lululemon Athletica from $314.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $379.52.

Lululemon Athletica Stock Up 15.9 %

LULU stock opened at $399.60 on Friday. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $516.39. The company has a market cap of $49.06 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 2.50 and a beta of 1.23. The business’s fifty day moving average is $305.79 and its 200-day moving average is $288.07.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Research analysts anticipate that Lululemon Athletica will post 13.93 earnings per share for the current fiscal year.

Insider Activity

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. American Trust bought a new position in Lululemon Athletica during the third quarter worth about $785,000. Synovus Financial Corp boosted its stake in shares of Lululemon Athletica by 46.4% during the 3rd quarter. Synovus Financial Corp now owns 4,191 shares of the apparel retailer’s stock worth $1,137,000 after acquiring an additional 1,329 shares during the period. Tidal Investments LLC increased its holdings in shares of Lululemon Athletica by 19.0% during the 3rd quarter. Tidal Investments LLC now owns 11,406 shares of the apparel retailer’s stock worth $3,095,000 after acquiring an additional 1,822 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Lululemon Athletica in the 3rd quarter valued at $249,000. Finally, Sfmg LLC acquired a new stake in Lululemon Athletica during the 3rd quarter valued at $2,984,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.