Lululemon Athletica (NASDAQ:LULU) Trading 6.2% Higher – Still a Buy?

Lululemon Athletica Inc. (NASDAQ:LULU) rose 6.2% during mid-day trading on Friday . The stock traded as high as $268.28 and last traded at $271.62. Approximately 6,826,466 shares changed hands during mid-day trading, an increase of 210% from the average daily volume of 2,204,607 shares. The stock had previously closed at $255.65.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America cut their price target on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, March 28th. BTIG Research cut their target price on Lululemon Athletica from $470.00 to $420.00 and set a “buy” rating on the stock in a report on Friday, March 28th. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research note on Thursday. Piper Sandler lowered their price objective on Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday, March 28th. Finally, Wells Fargo & Company dropped their target price on shares of Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.31.

Lululemon Athletica Price Performance

The business’s fifty day moving average price is $353.59 and its 200-day moving average price is $339.97. The stock has a market capitalization of $32.11 billion, a PE ratio of 19.04, a P/E/G ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the business posted $5.29 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. On average, analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors have recently made changes to their positions in LULU. Moody National Bank Trust Division lifted its stake in Lululemon Athletica by 1.2% during the first quarter. Moody National Bank Trust Division now owns 3,168 shares of the apparel retailer’s stock worth $897,000 after purchasing an additional 39 shares during the last quarter. Versant Capital Management Inc lifted its position in Lululemon Athletica by 122.4% in the 1st quarter. Versant Capital Management Inc now owns 407 shares of the apparel retailer’s stock worth $115,000 after buying an additional 224 shares during the last quarter. First Hawaiian Bank purchased a new stake in Lululemon Athletica in the first quarter worth approximately $806,000. Fairtree Asset Management Pty Ltd bought a new position in Lululemon Athletica during the fourth quarter valued at approximately $497,000. Finally, 111 Capital purchased a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $3,362,000. 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.