Robert W. Baird Reiterates Outperform Rating for Lululemon Athletica (NASDAQ:LULU)

Robert W. Baird reiterated their outperform rating on shares of Lululemon Athletica (NASDAQ:LULU) in a research report sent to investors on Thursday, Benzinga reports. Robert W. Baird currently has a $470.00 price objective on the apparel retailer’s stock.

A number of other research analysts also recently weighed in on the company. TD Securities decreased their price target on Lululemon Athletica from $515.00 to $437.00 and set a buy rating for the company in a research note on Wednesday, May 29th. Evercore ISI decreased their price target on Lululemon Athletica from $515.00 to $400.00 in a research note on Wednesday, June 5th. Jefferies Financial Group reduced their target price on Lululemon Athletica from $240.00 to $220.00 and set an underperform rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group reduced their target price on Lululemon Athletica from $521.00 to $463.00 and set a buy rating for the company in a research note on Friday, May 24th. Finally, Truist Financial reduced their target price on Lululemon Athletica from $498.00 to $415.00 and set a buy rating for the company in a research note on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $416.26.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $253.50 on Thursday. The business’s 50 day simple moving average is $300.18 and its 200 day simple moving average is $376.57. Lululemon Athletica has a 52-week low of $245.59 and a 52-week high of $516.39. The firm has a market cap of $31.69 billion, a PE ratio of 20.33, a P/E/G ratio of 1.26 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm earned $2.28 EPS. Lululemon Athletica’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities research analysts predict that Lululemon Athletica will post 14.29 EPS for the current year.

Lululemon Athletica announced that its board has approved a share repurchase plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors have recently made changes to their positions in LULU. CoreCap Advisors LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $285,000. Pacer Advisors Inc. boosted its position in shares of Lululemon Athletica by 203.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,233 shares of the apparel retailer’s stock valued at $7,788,000 after purchasing an additional 10,221 shares in the last quarter. Trueblood Wealth Management LLC bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at about $358,000. Ritholtz Wealth Management bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at about $221,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at about $59,000. 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.