Brokerages Set Lululemon Athletica Inc. (NASDAQ:LULU) PT at $406.68

Shares of Lululemon Athletica Inc. (NASDAQ:LULU) have been assigned a consensus rating of “Moderate Buy” from the thirty-two research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $404.26.

LULU has been the subject of several recent research reports. Morgan Stanley dropped their price target on Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. Barclays dropped their price objective on shares of Lululemon Athletica from $338.00 to $263.00 and set an “equal weight” rating for the company in a research note on Wednesday. Evercore ISI lowered their target price on shares of Lululemon Athletica from $400.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, July 26th. TD Cowen cut their price target on shares of Lululemon Athletica from $447.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Jefferies Financial Group reissued an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a research note on Thursday, July 25th.

Institutional Trading of Lululemon Athletica

Several hedge funds and other institutional investors have recently made changes to their positions in LULU. Valley National Advisers Inc. grew its stake in shares of Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Tidemark LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at $26,000. Benjamin Edwards Inc. lifted its position in Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 44 shares during the period. Finally, Riverview Trust Co purchased a new stake in Lululemon Athletica during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Up 3.6 %

Shares of Lululemon Athletica stock opened at $241.75 on Friday. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $516.39. The business has a 50-day moving average price of $289.23 and a 200-day moving average price of $363.41. The firm has a market cap of $30.22 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the firm earned $2.28 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities analysts expect that Lululemon Athletica will post 14.22 EPS for the current fiscal year.

Lululemon Athletica declared that its board has approved a stock repurchase program on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.