Lululemon Athletica (NASDAQ:LULU) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Lululemon Athletica (NASDAQ:LULU) had its price objective raised by investment analysts at Robert W. Baird from $350.00 to $380.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the apparel retailer’s stock. Robert W. Baird’s target price would suggest a potential upside of 20.52% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley decreased their price target on shares of Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Stifel Nicolaus lowered their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Lululemon Athletica in a report on Monday, August 26th. JPMorgan Chase & Co. lowered their target price on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Piper Sandler upped their price objective on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $357.13.

Lululemon Athletica Stock Up 0.7 %

Shares of Lululemon Athletica stock opened at $315.30 on Wednesday. The firm’s 50-day moving average price is $277.50 and its two-hundred day moving average price is $291.99. The company has a market capitalization of $38.71 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 2.31 and a beta of 1.24. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 earnings per share. On average, sell-side analysts expect that Lululemon Athletica will post 14.02 earnings per share for the current year.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lululemon Athletica

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Lululemon Athletica by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,847,954 shares of the apparel retailer’s stock valued at $3,847,103,000 after purchasing an additional 154,985 shares during the period. Value Star Asset Management Hong Kong Ltd increased its position in shares of Lululemon Athletica by 19,890.3% during the second 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 buying an additional 4,630,466 shares during the period. American Century Companies Inc. lifted its holdings in shares of Lululemon Athletica by 4.9% in the second quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after buying an additional 82,731 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Lululemon Athletica by 3.7% in the second quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock valued at $310,763,000 after acquiring an additional 37,239 shares during the period. Finally, 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 valued at $243,055,000 after acquiring an additional 894,531 shares during the period. 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.