Morgan Stanley Raises Lululemon Athletica (NASDAQ:LULU) Price Target to $420.00

Lululemon Athletica (NASDAQ:LULU) had its price target raised by equities research analysts at Morgan Stanley from $414.00 to $420.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s price target points to a potential upside of 10.96% from the company’s previous close.

A number of other research firms also recently issued reports on LULU. Truist Financial upped their target price on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, January 10th. TD Securities increased their price target on Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Piper Sandler lifted their price objective on Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Robert W. Baird raised their target price on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company upped their target price on shares of Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a research note on Wednesday. Two equities 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $388.93.

Lululemon Athletica Trading Down 2.6 %

NASDAQ LULU traded down $10.24 during trading hours on Wednesday, reaching $378.50. 1,227,789 shares of the company’s stock were exchanged, compared to its average volume of 1,561,221. The firm has a fifty day moving average of $358.92 and a 200-day moving average of $303.06. Lululemon Athletica has a one year low of $226.01 and a one year high of $491.30. The stock has a market cap of $46.10 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.78 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) 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 the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 EPS. As a group, research analysts forecast that Lululemon Athletica will post 14.17 EPS for the current year.

Insider Buying and Selling

In other news, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction on 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 sale, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

Hedge funds have recently bought and sold shares of the company. J.W. Cole Advisors Inc. increased its stake in shares of Lululemon Athletica by 29.6% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 1,394 shares of the apparel retailer’s stock valued at $416,000 after purchasing an additional 318 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Lululemon Athletica by 38.2% in the second quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer’s stock valued at $220,423,000 after purchasing an additional 203,882 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Lululemon Athletica by 10.2% during the second quarter. Citizens Financial Group Inc. RI now owns 841 shares of the apparel retailer’s stock valued at $251,000 after purchasing an additional 78 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Lululemon Athletica during the second quarter worth about $2,751,000. Finally, Axxcess Wealth Management LLC increased its stake in shares of Lululemon Athletica by 52.3% in the second quarter. Axxcess Wealth Management LLC now owns 1,467 shares of the apparel retailer’s stock valued at $438,000 after buying an additional 504 shares during the period. 85.20% of the stock is owned by institutional investors.

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.