Lululemon Athletica (NASDAQ:LULU) Trading Up 0.2% After Analyst Upgrade

Lululemon Athletica Inc Share Price (NASDAQ:LULU – Get Free Report ) was up 0.2% during trading on Monday after Deutsche Bank Aktiengesellschaft upped their target price for the stock from $291.00 to $292.00. Deutsche Bank Aktiengesellschaft currently has a neutral rating on the stock. Lululemon Athletica traded as high as $270.00 and last traded at $259.47. About 7,373,300 shares were traded during the trading session, up 245% from the average daily volume of 2,135,794 shares. Shares previously closed at $259.01.

Several other analysts have also recently weighed in on the stock. Evercore ISI reissued an “outperform” rating and issued a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday, August 26th. Jefferies Financial Group reissued an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research report on Thursday, July 25th. Piper Sandler lifted their price objective on Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays cut their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Goldman Sachs Group downgraded shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their price target for the company from $463.00 to $286.00 in a research report from Friday, August 2. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the stock. The company presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.94, based on data from MarketBeat.

See the latest stock analysis on Lululemon Athletica

Institutional Investors Consider Lululemon Athletica

Several hedge funds have recently added to or reduced their stakes in the company. Value Star Asset Management Hong Kong Ltd boosted 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 purchasing an additional 4,630,466 shares during the period. Vanguard Group Inc. raised its stake in shares of Lululemon Athletica by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after purchasing an additional 2,369,119 shares during the last quarter. Norges Bank acquired a new position in Lululemon Athletica during the fourth quarter valued at approximately $236,378,000. Marshall Wace LLP grew its position in Lululemon Athletica by 359.4% during the second quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer’s stock worth $61,084,000 after purchasing an additional 283,344 shares in the last quarter. Finally, Northern Trust Corp grew its position in Lululemon Athletica by 32.7% during the 4th quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after which bought an additional 257,944 shares in the last quarter. Institutional investors own 85.20% of the company’s shares.

Lululemon Athletica Stock Performance

The stock has a market cap of $32.43 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The stock has a 50-day moving average of $270.51 and a two-hundred-day moving average of $336.76.

Lululemon Athletica (NASDAQ:LULU – Get Your Free Report ) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. In the same quarter last year, the business posted earnings per share of $2.68. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Stock analysts anticipate that Lululemon Athletica Inc. will post 13.9 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has authorized a stock buyback program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that a company’s board believes its stock is undervalued.

About Lululemon Athletica

(Get a free report)

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes and markets athletic apparel, footwear and accessories under the lululemon brand for women and men. It offers pants, shorts, tops and jackets for a healthy lifestyle such as yoga, running, training and other activities. They also offer fitness-inspired accessories.

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