Morgan Stanley Issues Positive Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price objective lifted by Morgan Stanley from $414.00 to $420.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the apparel retailer’s stock.

A number of other equities analysts also recently issued reports on the company. Guggenheim increased their price objective on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group lifted their price target on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 target price for the company in a research note on Friday, January 10th. Oppenheimer decreased their target price on shares of Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Finally, TD Cowen lifted their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $389.23.

Lululemon Athletica Stock Down 3.1 %

Shares of LULU stock opened at $376.66 on Wednesday. The stock has a fifty day moving average of $358.92 and a 200 day moving average of $303.06. The firm has a market capitalization of $45.87 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.71 and a beta of 1.18. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $491.30.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.53 earnings per share. Equities research analysts anticipate that Lululemon Athletica will post 14.18 earnings per share for the current year.

Insider Activity at Lululemon Athletica

In other news, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the transaction, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. The trade was 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 currently owned by company insiders.

Hedge Funds Weigh In On Lululemon Athletica

A number of large investors have recently bought and sold shares of the business. Shepherd Financial Partners LLC purchased a new position in shares of Lululemon Athletica in the 3rd quarter valued at $953,000. XTX Topco Ltd boosted its position in Lululemon Athletica by 281.4% during the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after purchasing an additional 6,562 shares in the last quarter. Rheos Capital Works Inc. raised its holdings in Lululemon Athletica by 19.2% in the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock worth $4,206,000 after purchasing an additional 2,500 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Lululemon Athletica by 198.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock valued at $1,844,000 after buying an additional 4,564 shares during the last quarter. Finally, Caxton Associates LP lifted its position in shares of Lululemon Athletica by 6,702.7% during the second quarter. Caxton Associates LP now owns 60,000 shares of the apparel retailer’s stock valued at $17,922,000 after buying an additional 59,118 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

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.