Lululemon Athletica’s (LULU) Market Perform Rating Reiterated at Raymond James

Raymond James reiterated their market perform rating on shares of Lululemon Athletica (NASDAQ:LULU) in a report released on Friday, Marketbeat reports. The firm currently has a $430.00 price target on the apparel retailer’s stock.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating on the stock in a research note on Friday. KeyCorp lifted their price target on shares of Lululemon Athletica from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Truist Financial upped their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a report on Friday, January 10th. BMO Capital Markets raised 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. Finally, Sanford C. Bernstein raised Lululemon Athletica from a “market perform” rating to an “outperform” rating and upped their price target for the company from $360.00 to $460.00 in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus price target of $380.72.

Lululemon Athletica Price Performance

LULU stock opened at $293.06 on Friday. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32. The firm has a market capitalization of $35.69 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. The business has a 50 day simple moving average of $364.63 and a 200-day simple moving average of $340.22.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the business earned $5.29 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities research analysts expect that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Investors Weigh In On Lululemon Athletica

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in Lululemon Athletica by 95.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after purchasing an additional 2,371,079 shares during the last quarter. Alliancebernstein L.P. lifted its position in Lululemon Athletica by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after acquiring an additional 571,657 shares during the last quarter. Geode Capital Management LLC boosted its stake in Lululemon Athletica by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer’s stock valued at $947,682,000 after acquiring an additional 10,461 shares in the last quarter. Capital World Investors grew its holdings in shares of Lululemon Athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock worth $827,338,000 after purchasing an additional 556,406 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Lululemon Athletica by 31.0% during the fourth quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock worth $681,163,000 after purchasing an additional 421,890 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.