Lululemon Athletica (NASDAQ:LULU) Given “Outperform” Rating at Telsey Advisory Group

Lululemon Athletica (NASDAQ:LULU)‘s stock had its “outperform” rating reaffirmed by equities researchers at Telsey Advisory Group in a research report issued on Wednesday, Benzinga reports. They currently have a $550.00 target price on the apparel retailer’s stock. Telsey Advisory Group’s price target points to a potential upside of 70.29% from the company’s previous close.

Several other equities research analysts also recently issued reports on LULU. BMO Capital Markets raised their price objective on shares of Lululemon Athletica from $408.00 to $420.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Sanford C. Bernstein reduced their target price on shares of Lululemon Athletica from $430.00 to $384.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Morgan Stanley dropped their price objective on Lululemon Athletica from $539.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Citigroup cut their price objective on shares of Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, TD Cowen reduced their price objective on Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $474.79.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $322.98 on Wednesday. The stock’s 50-day simple moving average is $373.44 and its 200 day simple moving average is $433.23. Lululemon Athletica has a 52-week low of $322.15 and a 52-week high of $516.39. The company has a market cap of $40.70 billion, a P/E ratio of 26.45, a P/E/G ratio of 1.16 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the business earned $4.40 EPS. Lululemon Athletica’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities analysts predict that Lululemon Athletica will post 14.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In related news, Director Martha A. M. Morfitt purchased 700 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the purchase, the director now directly owns 500 shares in the company, valued at approximately $194,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Several institutional investors have recently made changes to their positions in the stock. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Lululemon Athletica during the fourth quarter valued at about $1,114,000. Rockline Wealth Management LLC purchased a new stake in Lululemon Athletica in the fourth quarter valued at approximately $1,503,000. Envestnet Asset Management Inc. lifted its position in Lululemon Athletica by 30.3% during the third quarter. Envestnet Asset Management Inc. now owns 189,953 shares of the apparel retailer’s stock valued at $73,248,000 after purchasing an additional 44,141 shares during the last quarter. Blair William & Co. IL lifted its position in Lululemon Athletica by 1.9% in the 3rd quarter. Blair William & Co. IL now owns 290,658 shares of the apparel retailer’s stock worth $112,081,000 after buying an additional 5,403 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in Lululemon Athletica by 10.9% in the fourth quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock worth $871,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors 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.