Robert W. Baird Issues Positive Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price target raised by Robert W. Baird from $350.00 to $380.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the apparel retailer’s stock.

Several other brokerages have also commented on LULU. Wells Fargo & Company cut their price objective on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. The Goldman Sachs Group lowered shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and reduced their price target for the company from $463.00 to $286.00 in a research report on Friday, August 2nd. Jefferies Financial Group reissued an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a report on Thursday, July 25th. Stifel Nicolaus reduced their target price on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Morgan Stanley decreased their price target on shares of Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $357.13.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU traded up $5.66 during midday trading on Wednesday, reaching $318.80. 222,636 shares of the company’s stock traded hands, compared to its average volume of 2,101,585. Lululemon Athletica has a one year low of $226.01 and a one year high of $516.39. The company has a market cap of $39.14 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 2.31 and a beta of 1.24. The stock has a 50 day moving average of $277.50 and a 200 day moving average of $291.99.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.68 EPS. Sell-side analysts predict that Lululemon Athletica will post 14.02 EPS for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lululemon Athletica

Large investors have recently bought and sold shares of the business. Shepherd Financial Partners LLC purchased a new stake in shares of Lululemon Athletica in the third quarter valued at approximately $953,000. XTX Topco Ltd raised its position in Lululemon Athletica by 281.4% during the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after acquiring an additional 6,562 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after purchasing an additional 3,721 shares in the last quarter. Gateway Investment Advisers LLC grew its position in shares of Lululemon Athletica by 9.7% in the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after purchasing an additional 3,077 shares during the period. Finally, Rheos Capital Works Inc. increased its stake in shares of Lululemon Athletica by 19.2% during the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock worth $4,206,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors and hedge funds 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.