Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $345.00

Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by Morgan Stanley from $314.00 to $345.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the apparel retailer’s stock.

Several other brokerages also recently commented on LULU. TD Securities increased their price target on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a report on Friday, August 30th. Evercore ISI reissued an “outperform” rating and issued a $300.00 price objective on shares of Lululemon Athletica in a research report on Monday, August 26th. Bank of America reduced their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Wedbush reduced their price objective on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Finally, UBS Group reduced their price objective on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average price target of $356.03.

Lululemon Athletica Stock Up 0.2 %

Shares of LULU stock opened at $319.52 on Tuesday. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $516.39. The business’s 50 day moving average is $296.03 and its two-hundred day moving average is $288.06. The company has a market cap of $39.23 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.38 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the company posted $2.68 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts expect that Lululemon Athletica will post 14.02 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of 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. boosted its holdings in Lululemon Athletica by 6.9% during the first quarter. Advisors Asset Management Inc. now owns 1,433 shares of the apparel retailer’s stock worth $560,000 after buying an additional 92 shares during the last quarter. Caxton Associates LP bought a new position in Lululemon Athletica during the first quarter worth about $345,000. B. Riley Wealth Advisors Inc. boosted its holdings in Lululemon Athletica by 30.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 7,543 shares of the apparel retailer’s stock worth $2,909,000 after buying an additional 1,748 shares during the last quarter. Tidal Investments LLC boosted its holdings in Lululemon Athletica by 655.9% during the first quarter. Tidal Investments LLC now owns 8,194 shares of the apparel retailer’s stock worth $3,201,000 after buying an additional 7,110 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its holdings in Lululemon Athletica by 31.1% during the first quarter. Beacon Capital Management LLC now owns 194 shares of the apparel retailer’s stock worth $76,000 after buying an additional 46 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.