Morgan Stanley Increases Lululemon Athletica (NASDAQ:LULU) Price Target to $414.00

Lululemon Athletica (NASDAQ:LULU) had its price objective boosted by Morgan Stanley from $345.00 to $414.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s price target would suggest a potential upside of 1.85% from the company’s previous close.

Several other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and issued a $438.00 price objective (up previously from $370.00) on shares of Lululemon Athletica in a research report on Friday. Sanford C. Bernstein reduced their target price on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. Wells Fargo & Company lowered their price target on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Finally, TD Cowen cut their target price on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. 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 stock. Based on data from MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus target price of $372.19.

Lululemon Athletica Stock Performance

NASDAQ LULU traded up $61.67 during trading on Friday, reaching $406.48. 7,971,840 shares of the company traded hands, compared to its average volume of 2,109,578. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $516.39. The company has a market cap of $49.91 billion, a price-to-earnings ratio of 31.53, a P/E/G ratio of 2.49 and a beta of 1.23. The stock’s 50 day moving average price is $303.40 and its two-hundred day moving average price is $287.81.

Lululemon Athletica (NASDAQ:LULU) last posted its 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 for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 EPS. Equities research analysts expect that Lululemon Athletica will post 13.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nicole Neuburger sold 486 shares of the business’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 transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

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