Lululemon Athletica (NASDAQ:LULU) Trading Up 0.4%

Lululemon Athletica Inc. (NASDAQ:LULU) shot up 0.4% during mid-day trading on Tuesday . The company traded as high as $287.25 and last traded at $286.02. 267,162 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,022,945 shares. The stock had previously closed at $285.00.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LULU shares. HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $405.00 to $425.00 in a research report on Thursday, June 6th. Robert W. Baird restated an “outperform” rating and set a $470.00 price objective on shares of Lululemon Athletica in a research note on Thursday. The Goldman Sachs Group lowered their target price on Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Telsey Advisory Group reduced their price target on Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating for the company in a research report on Thursday, June 6th. Finally, Oppenheimer reiterated an “outperform” rating and set a $445.00 price objective on shares of Lululemon Athletica in a research note on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $422.87.

Lululemon Athletica Trading Down 9.1 %

The firm has a 50-day simple moving average of $303.63 and a two-hundred day simple moving average of $380.66. The stock has a market cap of $30.92 billion, a P/E ratio of 19.83, a PEG ratio of 1.40 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the company earned $2.28 EPS. The business’s revenue was up 10.4% on a year-over-year basis. Sell-side analysts predict that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

Lululemon Athletica announced that its board has authorized a share repurchase plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinnacle Financial Partners Inc lifted its stake in Lululemon Athletica by 1.9% during the fourth quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock worth $646,000 after purchasing an additional 23 shares during the last quarter. Moody National Bank Trust Division raised its stake in Lululemon Athletica by 1.0% during the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after acquiring an additional 29 shares in the last quarter. Congress Wealth Management LLC DE boosted its stake in shares of Lululemon Athletica by 2.0% in the 4th quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock valued at $777,000 after purchasing an additional 30 shares in the last quarter. Great Lakes Retirement Inc. grew its holdings in shares of Lululemon Athletica by 1.1% during the 4th quarter. Great Lakes Retirement Inc. now owns 2,964 shares of the apparel retailer’s stock valued at $1,515,000 after purchasing an additional 31 shares during the last quarter. Finally, Graypoint LLC increased its position in Lululemon Athletica by 5.1% during the 1st quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock worth $273,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.