Lululemon Athletica (NASDAQ:LULU) Stock Price Expected to Rise, KeyCorp Analyst Says

Lululemon Athletica (NASDAQ:LULU) had its target price lifted by equities researchers at KeyCorp from $350.00 to $400.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. KeyCorp’s price target would suggest a potential upside of 0.10% from the stock’s current price.

A number of other equities research analysts have also weighed in on LULU. Morgan Stanley lifted their target price on shares of Lululemon Athletica from $314.00 to $345.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. TD Securities lifted their price objective on Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Bank of America decreased their target price on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Citigroup reduced their price target on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Finally, Stifel Nicolaus lowered their price objective on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus price target of $379.52.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $399.60 on Friday. The stock’s 50-day moving average is $305.79 and its 200 day moving average is $288.07. The company has a market cap of $49.06 billion, a PE ratio of 28.85, a P/E/G ratio of 2.50 and a beta of 1.23. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm earned $2.53 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts expect that Lululemon Athletica will post 13.93 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently modified their holdings of LULU. Value Star Asset Management Hong Kong Ltd increased its position in Lululemon Athletica by 19,890.3% during the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Lululemon Athletica by 74,856.2% during the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after purchasing an additional 894,531 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of Lululemon Athletica during the 3rd quarter valued at about $93,476,000. The Manufacturers Life Insurance Company lifted its stake in shares of Lululemon Athletica by 136.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after purchasing an additional 305,302 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new position in shares of Lululemon Athletica in the third quarter worth approximately $81,405,000. 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.