Lululemon Athletica (NASDAQ:LULU) Trading Up 1.4%

Lululemon Athletica Inc. (NASDAQ:LULU)’s share price shot up 1.4% during trading on Monday . The company traded as high as $284.19 and last traded at $284.12. 355,204 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 2,027,645 shares. The stock had previously closed at $280.23.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LULU. The Goldman Sachs Group decreased their price objective on Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating for the company in a report on Friday, May 24th. Wedbush raised their price target on shares of Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Jefferies Financial Group cut their price objective on shares of Lululemon Athletica from $240.00 to $220.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 10th. BMO Capital Markets decreased their target price on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a research report on Thursday, June 6th. Finally, HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and boosted their price target for the stock from $405.00 to $425.00 in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $431.29.

Lululemon Athletica Stock Up 1.7 %

The firm has a market capitalization of $35.63 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 1.39 and a beta of 1.26. The company’s 50 day moving average is $307.79 and its 200 day moving average is $384.38.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 EPS. On average, analysts expect that Lululemon Athletica Inc. will post 14.29 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has approved a share buyback program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Lululemon Athletica

Hedge funds have recently bought and sold shares of the company. Premier Path Wealth Partners LLC bought a new stake in shares of Lululemon Athletica during the 4th quarter worth $310,000. HB Wealth Management LLC grew its holdings in shares of Lululemon Athletica by 10.9% during the 4th quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock valued at $871,000 after purchasing an additional 168 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its stake in Lululemon Athletica by 38.5% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,800 shares of the apparel retailer’s stock valued at $920,000 after purchasing an additional 500 shares during the last quarter. Cooper Financial Group acquired a new stake in Lululemon Athletica in the fourth quarter valued at approximately $218,000. Finally, CoreCap Advisors LLC bought a new stake in shares of Lululemon Athletica during the fourth quarter worth $285,000. 85.20% of the stock is owned by institutional investors.

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.