Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $375.00 at Wells Fargo & Company

Lululemon Athletica (NASDAQ:LULU) had its price objective upped by Wells Fargo & Company from $350.00 to $375.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 3.53% from the stock’s previous close.

Several other brokerages have also weighed in on LULU. KeyCorp lifted their price target on Lululemon Athletica from $350.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Piper Sandler increased their price objective on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Truist Financial boosted their target price on shares of Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Citigroup raised their price target on shares of Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus price target of $386.23.

Lululemon Athletica Trading Down 2.5 %

Shares of NASDAQ:LULU opened at $388.74 on Wednesday. The company has a market capitalization of $47.34 billion, a PE ratio of 28.07, a PEG ratio of 2.78 and a beta of 1.18. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $491.30. The business has a 50 day moving average of $358.92 and a two-hundred day moving average of $303.06.

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. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.53 EPS. Equities research analysts predict that Lululemon Athletica will post 14.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Celeste Burgoyne sold 24,870 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the completion of the sale, the insider now directly owns 12,429 shares in the company, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of Lululemon Athletica

A number of institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC grew its stake in shares of Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after acquiring an additional 894,531 shares in the last quarter. Maverick Capital Ltd. purchased a new position in shares of Lululemon Athletica in the 3rd quarter valued at about $93,476,000. The Manufacturers Life Insurance Company raised its holdings in Lululemon Athletica by 136.3% during the third 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 in the last quarter. Southpoint Capital Advisors LP acquired a new stake in Lululemon Athletica during the 3rd quarter worth $81,405,000. Finally, River Road Asset Management LLC purchased a new position in shares of Lululemon Athletica during the third quarter worth about $79,503,000. 85.20% of the stock is currently owned by hedge funds and other 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.