Morgan Stanley Raises Lululemon Athletica (NASDAQ:LULU) Price Target to $414.00

Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by Morgan Stanley from $345.00 to $414.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the apparel retailer’s stock.

Several other equities analysts also recently commented on the company. Telsey Advisory Group increased their price target on Lululemon Athletica from $360.00 to $430.00 and gave the company an “outperform” rating in a report on Friday. Citigroup reduced their price objective on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. TD Cowen increased their price objective on Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday. Robert W. Baird increased their price objective on Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday. Finally, William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research report on Friday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $379.52.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $399.60 on Friday. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $516.39. The stock’s 50 day moving average price is $303.40 and its 200 day moving average price is $287.81. The company has a market capitalization of $49.06 billion, a P/E ratio of 28.85, a P/E/G ratio of 2.50 and a beta of 1.23.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the company posted $2.53 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Lululemon Athletica will post 13.93 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Lululemon Athletica

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Trust acquired a new stake in Lululemon Athletica in the third quarter worth about $785,000. Synovus Financial Corp grew its position in shares of Lululemon Athletica by 46.4% during the 3rd quarter. Synovus Financial Corp now owns 4,191 shares of the apparel retailer’s stock worth $1,137,000 after buying an additional 1,329 shares during the period. Tidal Investments LLC grew its position in shares of Lululemon Athletica by 19.0% during the 3rd quarter. Tidal Investments LLC now owns 11,406 shares of the apparel retailer’s stock worth $3,095,000 after buying an additional 1,822 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Lululemon Athletica during the 3rd quarter worth about $249,000. Finally, Sfmg LLC acquired a new position in shares of Lululemon Athletica during the 3rd quarter worth about $2,984,000. 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.