Lululemon Athletica (NASDAQ:LULU) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Lululemon Athletica (NASDAQ:LULU) in a research report report published on Friday morning, MarketBeat.com reports. The firm issued a hold rating on the apparel retailer’s stock.

Several other research firms have also weighed in on LULU. TD Cowen lowered their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Jefferies Financial Group reissued an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research report on Thursday, July 25th. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Lululemon Athletica in a research report on Monday, August 26th. Stifel Nicolaus decreased their target price on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Wedbush dropped their price target on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $357.13.

Lululemon Athletica Stock Up 0.6 %

NASDAQ:LULU opened at $317.11 on Friday. The company has a market cap of $38.93 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.24. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $516.39. The business has a 50 day moving average price of $291.83 and a two-hundred day moving average price of $288.87.

Lululemon Athletica (NASDAQ:LULU) last released its 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. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $2.68 earnings per share. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, analysts anticipate that Lululemon Athletica will post 14.02 earnings per share for the current fiscal year.

Insider Activity

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $1,670,918.82. The trade was a 7.27 % 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.

Institutional Trading of Lululemon Athletica

A number of institutional investors and hedge funds have recently bought and sold shares of LULU. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Lululemon Athletica during the first quarter worth about $187,000. CreativeOne Wealth LLC raised its holdings in Lululemon Athletica by 81.7% during the 1st quarter. CreativeOne Wealth LLC now owns 1,274 shares of the apparel retailer’s stock worth $497,000 after purchasing an additional 573 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Lululemon Athletica by 6.9% in the 1st quarter. Advisors Asset Management Inc. now owns 1,433 shares of the apparel retailer’s stock worth $560,000 after purchasing an additional 92 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Lululemon Athletica by 362.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 121,143 shares of the apparel retailer’s stock valued at $47,325,000 after purchasing an additional 94,943 shares during the last quarter. Finally, BOKF NA increased its position in shares of Lululemon Athletica by 60.3% during the first quarter. BOKF NA now owns 10,931 shares of the apparel retailer’s stock worth $4,211,000 after buying an additional 4,114 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.