Lululemon Athletica (NASDAQ:LULU) Stock Price Expected to Rise, Oppenheimer Analyst Says

Lululemon Athletica (NASDAQ:LULU) had its target price increased by equities research analysts at Oppenheimer from $380.00 to $500.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the apparel retailer’s stock. Oppenheimer’s price target indicates a potential upside of 24.09% from the company’s previous close.

A number of other research firms also recently commented on LULU. William Blair reaffirmed an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. BMO Capital Markets boosted their target price on Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Citigroup boosted their price target on Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Piper Sandler upped their target price on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Truist Financial upped their target price on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $399.67.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU traded down $8.90 during mid-day trading on Friday, hitting $402.94. The company’s stock had a trading volume of 752,957 shares, compared to its average volume of 1,574,514. The stock has a market cap of $49.07 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 2.70 and a beta of 1.19. The company’s fifty day simple moving average is $386.06 and its 200-day simple moving average is $315.24. Lululemon Athletica has a one year low of $226.01 and a one year high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $2.53 EPS. On average, sell-side analysts predict that Lululemon Athletica will post 14.36 EPS for the current year.

Insider Buying and Selling

In other news, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Celeste Burgoyne sold 24,870 shares of the company’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 of the company’s stock, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in shares of Lululemon Athletica by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer’s stock worth $669,036,000 after purchasing an additional 44,294 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Lululemon Athletica by 74,856.2% during the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after buying an additional 894,531 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Lululemon Athletica by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 719,413 shares of the apparel retailer’s stock worth $275,111,000 after buying an additional 17,119 shares during the last quarter. Amundi grew its holdings in shares of Lululemon Athletica by 2.9% during the fourth quarter. Amundi now owns 666,691 shares of the apparel retailer’s stock worth $261,956,000 after buying an additional 18,861 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. grew its holdings in shares of Lululemon Athletica by 43.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 611,814 shares of the apparel retailer’s stock worth $166,016,000 after buying an additional 185,440 shares during the last quarter. Hedge funds and other 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.