Lululemon Athletica (NASDAQ:LULU) Stock Price Expected to Rise, Evercore ISI Analyst Says

Lululemon Athletica (NASDAQ:LULU) had its price target hoisted by equities research analysts at Evercore ISI from $440.00 to $495.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the apparel retailer’s stock. Evercore ISI’s price target indicates a potential upside of 20.39% from the company’s current price.

Other equities analysts have also recently issued reports about the company. TD Securities lifted their price objective on Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Telsey Advisory Group lifted their price objective on Lululemon Athletica from $430.00 to $445.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Piper Sandler lifted their price objective on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a report on Monday, December 2nd. Finally, BMO Capital Markets lifted their price objective on Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $395.67.

Lululemon Athletica Trading Up 0.4 %

NASDAQ:LULU opened at $411.16 on Tuesday. The stock has a market cap of $50.07 billion, a P/E ratio of 29.69, a PEG ratio of 2.50 and a beta of 1.18. The stock has a 50 day simple moving average of $372.62 and a 200 day simple moving average of $309.37. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $491.30.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.18. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $2.53 EPS. As a group, sell-side analysts forecast that Lululemon Athletica will post 14.34 EPS for the current year.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. The trade was a 24.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the business’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 transaction, the insider now directly owns 12,429 shares in the company, valued at $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Institutional Trading of Lululemon Athletica

Several hedge funds have recently bought and sold shares of the business. Shepherd Financial Partners LLC bought a new position in shares of Lululemon Athletica in the third quarter valued at $953,000. Rheos Capital Works Inc. boosted its stake in Lululemon Athletica by 19.2% during the 3rd quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after purchasing an additional 2,500 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Lululemon Athletica by 198.8% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock worth $1,844,000 after purchasing an additional 4,564 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Lululemon Athletica by 50.5% in the third quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after purchasing an additional 34,704 shares in the last quarter. Finally, Touchstone Capital Inc. bought a new position in shares of Lululemon Athletica in the third quarter valued at approximately $4,084,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.