Lululemon Athletica (NASDAQ:LULU) Receives Outperform Rating from Raymond James

Raymond James reiterated their outperform rating on shares of Lululemon Athletica (NASDAQ:LULU) in a report published on Wednesday,Benzinga reports. Raymond James currently has a $430.00 price target on the apparel retailer’s stock, up from their previous price target of $400.00.

A number of other brokerages have also weighed in on LULU. William Blair reaffirmed an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Wells Fargo & Company upped their target price on Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup lifted their price target on Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Oppenheimer cut their price objective on Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Finally, BMO Capital Markets lifted their target price on Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $389.23.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $376.66 on Wednesday. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $491.30. The firm has a market capitalization of $45.87 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 2.71 and a beta of 1.18. The business has a 50 day simple moving average of $358.92 and a 200 day simple moving average of $303.06.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the business posted $2.53 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Lululemon Athletica will post 14.18 EPS for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In related news, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LULU. Paladin Wealth LLC bought a new position in Lululemon Athletica in the 3rd quarter worth approximately $29,000. JFS Wealth Advisors LLC lifted its position in shares of Lululemon Athletica by 127.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after buying an additional 65 shares during the period. Armstrong Advisory Group Inc. boosted its stake in Lululemon Athletica by 110.1% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock valued at $39,000 after buying an additional 76 shares in the last quarter. Asset Dedication LLC grew its position in Lululemon Athletica by 402.1% in the third quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock valued at $64,000 after acquiring an additional 189 shares during the period. Finally, Avondale Wealth Management acquired a new position in Lululemon Athletica during the third quarter worth $68,000. 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.