Oppenheimer Forecasts Strong Price Appreciation for Lululemon Athletica (NASDAQ:LULU) Stock

Lululemon Athletica (NASDAQ:LULU) had its price objective raised by Oppenheimer from $380.00 to $500.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have an outperform rating on the apparel retailer’s stock.

Several other analysts have also recently commented on the stock. Raymond James reissued an “outperform” rating and set a $430.00 price target (up from $400.00) on shares of Lululemon Athletica in a research note on Wednesday, January 15th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on Lululemon Athletica from $428.00 to $437.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price target on Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Finally, TD Securities lifted their price objective on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus price target of $399.67.

Lululemon Athletica Price Performance

LULU stock opened at $398.10 on Friday. The business has a fifty day moving average price of $386.06 and a 200 day moving average price of $315.24. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $480.94. The stock has a market capitalization of $48.48 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.51 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $2.53 earnings per share. On average, equities analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Insider Transactions at Lululemon Athletica

In related news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now owns 12,429 shares in the company, valued at $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LULU. Czech National Bank raised its holdings in Lululemon Athletica by 7.3% during the third quarter. Czech National Bank now owns 23,427 shares of the apparel retailer’s stock worth $6,357,000 after acquiring an additional 1,592 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Lululemon Athletica by 153.1% during the 3rd quarter. GAMMA Investing LLC now owns 967 shares of the apparel retailer’s stock worth $262,000 after purchasing an additional 585 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Lululemon Athletica by 43.9% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,003 shares of the apparel retailer’s stock worth $1,086,000 after purchasing an additional 1,222 shares in the last quarter. Brookstone Capital Management acquired a new stake in shares of Lululemon Athletica in the 3rd quarter valued at approximately $265,000. Finally, CWM LLC grew its stake in shares of Lululemon Athletica by 13.7% in the third quarter. CWM LLC now owns 3,294 shares of the apparel retailer’s stock valued at $894,000 after buying an additional 398 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.