Lululemon Athletica (NASDAQ:LULU) Trading Up 0.9%

Lululemon Athletica Inc. (NASDAQ:LULU)’s share price shot up 0.9% during trading on Thursday . The stock traded as high as $258.45 and last traded at $257.44. 305,452 shares were traded during trading, a decline of 86% from the average session volume of 2,127,668 shares. The stock had previously closed at $255.20.

Analysts Set New Price Targets

Several research firms recently commented on LULU. Raymond James cut their target price on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, September 2nd. Oppenheimer restated an “outperform” rating and set a $445.00 target price on shares of Lululemon Athletica in a research report on Thursday, June 6th. Truist Financial restated a “buy” rating and set a $310.00 target price on shares of Lululemon Athletica in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft raised their price target on Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, Citigroup dropped their price target on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.94.

Lululemon Athletica Stock Up 2.5 %

The company has a fifty day simple moving average of $262.01 and a two-hundred day simple moving average of $326.05. The stock has a market capitalization of $32.75 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the company earned $2.68 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Lululemon Athletica Inc. will post 14.03 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has approved a stock buyback program on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica 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 completion of the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

A number of large investors have recently modified their holdings of LULU. Avantax Advisory Services Inc. increased its position in shares of Lululemon Athletica by 25.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 818 shares of the apparel retailer’s stock valued at $418,000 after purchasing an additional 164 shares during the last quarter. Foundations Investment Advisors LLC boosted its position in shares of Lululemon Athletica by 10.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 946 shares of the apparel retailer’s stock valued at $484,000 after acquiring an additional 93 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Lululemon Athletica by 44.9% during the 4th quarter. Quadrant Capital Group LLC now owns 471 shares of the apparel retailer’s stock valued at $241,000 after buying an additional 146 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in shares of Lululemon Athletica by 3.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 1,199 shares of the apparel retailer’s stock valued at $613,000 after buying an additional 45 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Lululemon Athletica by 1.4% in the 4th quarter. Panagora Asset Management Inc. now owns 2,966 shares of the apparel retailer’s stock worth $1,516,000 after purchasing an additional 42 shares during the period. 85.20% of the stock is currently 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.