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

Lululemon Athletica (NASDAQ:LULU) had its price objective boosted by analysts at Evercore ISI from $300.00 to $355.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the apparel retailer’s stock. Evercore ISI’s target price indicates a potential upside of 10.71% from the stock’s current price.

LULU has been the subject of a number of other research reports. Barclays reduced their target price on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Deutsche Bank Aktiengesellschaft increased their price target on Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, August 30th. TD Securities increased their price target on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a report on Friday, August 30th. Citigroup cut their price target on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and issued a $220.00 price target on shares of Lululemon Athletica in a report on Monday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $357.81.

Lululemon Athletica Stock Up 0.4 %

Shares of Lululemon Athletica stock traded up $1.14 during mid-day trading on Monday, reaching $320.66. 839,228 shares of the stock traded hands, compared to its average volume of 2,075,428. The business has a 50-day moving average of $297.19 and a 200 day moving average of $287.01. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The stock has a market capitalization of $39.37 billion, a PE ratio of 24.78, 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 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the firm earned $2.68 earnings per share. 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 14.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica 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 of the company’s stock, valued at $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Institutional Trading of Lululemon Athletica

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Lululemon Athletica by 61.5% during the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 40 shares in the last quarter. Sunbelt Securities Inc. increased its position in Lululemon Athletica by 4.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 950 shares of the apparel retailer’s stock valued at $258,000 after acquiring an additional 42 shares during the period. Rockline Wealth Management LLC increased its position in Lululemon Athletica by 1.3% in the 2nd quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer’s stock valued at $990,000 after acquiring an additional 43 shares during the period. Larson Financial Group LLC increased its position in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 43 shares during the period. Finally, HHM Wealth Advisors LLC increased its position in Lululemon Athletica by 66.7% in the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds 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.