Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $380.00

Lululemon Athletica (NASDAQ:LULU) had its price target increased by analysts at Citigroup from $270.00 to $380.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the apparel retailer’s stock. Citigroup’s price objective suggests a potential downside of 5.46% from the stock’s current price.

A number of other research firms have also weighed in on LULU. BMO Capital Markets increased their price target on Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. increased their price objective on Lululemon Athletica from $338.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday. TD Cowen increased their price objective on Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday. Finally, Telsey Advisory Group increased their price objective on Lululemon Athletica from $360.00 to $430.00 and gave the stock an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.52.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU traded up $57.14 during midday trading on Friday, reaching $401.95. The company had a trading volume of 9,386,675 shares, compared to its average volume of 2,115,612. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $516.39. The firm has a market cap of $49.35 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 2.49 and a beta of 1.23. The company has a fifty day simple moving average of $303.40 and a two-hundred day simple moving average of $287.81.

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, beating analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company posted $2.53 EPS. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts expect that Lululemon Athletica will post 13.94 EPS for the current year.

Insider Activity at Lululemon Athletica

In related 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 completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Several large investors have recently bought and sold shares of the stock. American Trust acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at $785,000. Synovus Financial Corp raised its stake in shares of Lululemon Athletica by 46.4% in the 3rd quarter. Synovus Financial Corp now owns 4,191 shares of the apparel retailer’s stock valued at $1,137,000 after buying an additional 1,329 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Lululemon Athletica by 19.0% in the 3rd quarter. Tidal Investments LLC now owns 11,406 shares of the apparel retailer’s stock valued at $3,095,000 after buying an additional 1,822 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at $249,000. Finally, Sfmg LLC acquired a new position in shares of Lululemon Athletica in 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.