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

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

Other equities research analysts have also issued research reports about the company. Piper Sandler upped their target price on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. BMO Capital Markets raised their price objective on shares of Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Telsey Advisory Group boosted their target price on shares of Lululemon Athletica from $430.00 to $445.00 and gave the company an “outperform” rating in a research report on Tuesday. Sanford C. Bernstein raised Lululemon Athletica from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $360.00 to $460.00 in a research report on Tuesday, January 7th. Finally, Evercore ISI raised their price objective on Lululemon Athletica from $300.00 to $355.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $388.93.

Lululemon Athletica Stock Performance

Shares of LULU traded down $10.24 during mid-day trading on Wednesday, reaching $378.50. 1,227,789 shares of the company were exchanged, compared to its average volume of 1,561,221. The business has a 50 day simple moving average of $358.92 and a two-hundred day simple moving average of $303.06. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $491.30. The stock has a market capitalization of $46.10 billion, a PE ratio of 27.33, a PEG ratio of 2.78 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm posted $2.53 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Lululemon Athletica will post 14.17 EPS for the current year.

Insider Buying and Selling at Lululemon Athletica

In related news, insider Celeste Burgoyne sold 24,870 shares of the business’s 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 in the company, valued at approximately $5,040,456.66. The trade was 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 firm’s stock in a transaction dated Thursday, December 26th. The stock was 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 owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Howard Financial Services LTD. boosted its position in shares of Lululemon Athletica by 5.7% during the 4th quarter. Howard Financial Services LTD. now owns 884 shares of the apparel retailer’s stock valued at $338,000 after acquiring an additional 48 shares during the last quarter. Arkadios Wealth Advisors raised its stake in Lululemon Athletica by 9.8% in the fourth quarter. Arkadios Wealth Advisors now owns 2,732 shares of the apparel retailer’s stock valued at $1,045,000 after purchasing an additional 244 shares in the last quarter. Merit Financial Group LLC grew its stake in Lululemon Athletica by 113.5% in the 4th quarter. Merit Financial Group LLC now owns 1,687 shares of the apparel retailer’s stock worth $645,000 after buying an additional 897 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Lululemon Athletica in the 4th quarter worth $3,364,000. Finally, First Pacific Financial raised its position in shares of Lululemon Athletica by 1.4% during the 4th quarter. First Pacific Financial now owns 3,096 shares of the apparel retailer’s stock valued at $1,184,000 after buying an additional 44 shares in the last quarter. 85.20% of the stock is currently owned by hedge funds and other 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.