Stifel Nicolaus Reaffirms Buy Rating for Lululemon Athletica (NASDAQ:LULU)

Lululemon Athletica (NASDAQ:LULU)‘s stock had its “buy” rating reaffirmed by analysts at Stifel Nicolaus in a report released on Friday,Benzinga reports. They presently have a $438.00 price objective on the apparel retailer’s stock, up from their previous price objective of $370.00. Stifel Nicolaus’ target price points to a potential upside of 16.78% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Wedbush reduced their price target on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Truist Financial upped their target price on Lululemon Athletica from $360.00 to $420.00 and gave the company a “buy” rating in a research note on Friday. Sanford C. Bernstein lowered their target price on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a report on Friday, August 30th. KeyCorp boosted their price target on Lululemon Athletica from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Piper Sandler increased their price objective on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $366.26.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $375.07 on Friday. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $516.39. The firm has a market capitalization of $46.05 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 2.49 and a beta of 1.23. The business’s 50 day simple moving average is $303.40 and its 200-day simple moving average is $287.81.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.53 earnings per share. On average, equities analysts anticipate that Lululemon Athletica will post 13.94 earnings per share for the current year.

Insider Activity

In related news, insider Nicole Neuburger sold 486 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC raised its stake in shares of Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 43 shares during the period. Paladin Wealth LLC acquired a new stake in shares of Lululemon Athletica in the third quarter valued at about $29,000. JFS Wealth Advisors LLC raised its holdings 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 valued at $31,000 after buying an additional 65 shares during the period. Ridgewood Investments LLC acquired a new position in Lululemon Athletica during the 2nd quarter worth approximately $33,000. Finally, Dnca Finance acquired a new position in Lululemon Athletica during the 2nd quarter worth approximately $34,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

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.