United Asset Strategies Inc. buy 2,228 shares of Lululemon Athletica Inc. (NASDAQ:LULU)

United Asset Strategies Inc. acquired a new stake in Lululemon Athletica Inc. (NASDAQ:LULU – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,228 shares of the apparel retailer’s stock, valued at approximately $666,000.

Several other institutional investors have recently added to or reduced their stakes in the business. Tidemark LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in Lululemon Athletica in the 4th quarter valued at $26,000. Richardson Financial Services Inc. bought a new position in Lululemon Athletica in the 4th quarter valued at $31,000. True Wealth Design LLC boosted its stake in Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 59 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its stake in Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 44 shares in the last quarter. 85.20% of shares are owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

Several equities analysts have weighed in on LULU shares. TD Cowen decreased their price objective on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Robert W. Baird decreased their price objective on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Raymond James decreased their price objective on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday. TD Securities boosted their price objective on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus cut their price target 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 investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the stock. Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.94, according to MarketBeat.com.

Get the latest analysis on Lululemon Athletica

Lululemon Athletica stocks rise 0.2%

Shares of NASDAQ LULU opened at $259.47 on Tuesday. The company has a market cap of $32.43 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.40 and a beta of 1.26. The company has a 50 day simple moving average of $270.51 and a two hundred day simple moving average of $336.76. Lululemon Athletica Inc. it has a 52-week low of $226.01 and a 52-week high of $516.39.

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

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

About Lululemon Athletica

(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.

Featured stories

Want to see what other hedge funds own LULU? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Lululemon Athletica Inc. (NASDAQ:LULU – Free Report).

Get news and reviews for Lululemon Athletica Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Lululemon Athletica and related companies with MarketBeat.com ‘s FREE daily email newsletter.