Brokerages Set Lululemon Athletica Inc. (NASDAQ:LULU) PT at $357.13

Shares of Lululemon Athletica Inc. (NASDAQ:LULU) have been given a consensus rating of “Moderate Buy” by the thirty-one research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and twenty have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $357.13.

A number of research firms have recently weighed in on LULU. The Goldman Sachs Group downgraded shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $463.00 to $286.00 in a research report on Friday, August 2nd. Piper Sandler upped their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research note on Thursday, July 25th. Wedbush dropped their price target on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Finally, Telsey Advisory Group lowered their price objective on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research note on Monday, August 26th.

Lululemon Athletica Price Performance

LULU stock opened at $309.53 on Tuesday. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39. The firm has a 50-day moving average of $287.57 and a 200 day moving average of $289.16. The company has a market cap of $38.00 billion, a P/E ratio of 23.92, a PEG ratio of 2.33 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the company earned $2.68 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Lululemon Athletica will post 14.02 earnings per share for the current fiscal year.

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction on 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 represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Calvin Mcdonald bought 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. This represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Lululemon Athletica

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Value Star Asset Management Hong Kong Ltd grew its stake in shares of Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the period. International Assets Investment Management LLC boosted its position in shares of Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after purchasing an additional 894,531 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of Lululemon Athletica in the third quarter worth $93,476,000. The Manufacturers Life Insurance Company raised its position in shares of Lululemon Athletica by 136.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock valued at $143,624,000 after purchasing an additional 305,302 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new position in shares of Lululemon Athletica during the 3rd quarter valued at $81,405,000. Hedge funds and other 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.