Morgan Stanley Forecasts Strong Price Appreciation for Lululemon Athletica (NASDAQ:LULU) Stock

Lululemon Athletica (NASDAQ:LULU) had its price target hoisted by stock analysts at Morgan Stanley from $314.00 to $345.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s target price would indicate a potential upside of 7.97% from the company’s current price.

A number of other analysts also recently weighed in on LULU. Robert W. Baird increased their price target on shares of Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. KeyCorp reduced their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Barclays reduced 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 report on Friday, August 30th. TD Securities raised their price objective on shares of Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, UBS Group reduced their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $356.03.

Lululemon Athletica Trading Up 0.2 %

NASDAQ LULU opened at $319.52 on Tuesday. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39. The company has a fifty day simple moving average of $295.06 and a 200 day simple moving average of $287.84. The company has a market cap of $39.23 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.38 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the firm earned $2.68 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that Lululemon Athletica will post 14.02 EPS for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This trade represents a 4.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors have recently added to or reduced their stakes in the company. Synovus Financial Corp increased its holdings in shares of Lululemon Athletica by 46.4% in the third quarter. Synovus Financial Corp now owns 4,191 shares of the apparel retailer’s stock valued at $1,137,000 after purchasing an additional 1,329 shares during the last quarter. Tidal Investments LLC lifted its position in Lululemon Athletica by 19.0% during the third quarter. Tidal Investments LLC now owns 11,406 shares of the apparel retailer’s stock worth $3,095,000 after purchasing an additional 1,822 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Lululemon Athletica during the third quarter worth about $249,000. Sfmg LLC acquired a new position in Lululemon Athletica during the third quarter worth about $2,984,000. Finally, World Investment Advisors LLC acquired a new position in Lululemon Athletica during the third quarter worth about $15,038,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.