Lululemon Athletica (NASDAQ:LULU) Upgraded by Needham & Company LLC to Buy Rating

Lululemon Athletica (NASDAQ:LULU) was upgraded by stock analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage currently has a $475.00 price objective on the apparel retailer’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 20.89% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a report on Monday, December 9th. TD Securities lifted their price objective on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on Lululemon Athletica from $425.00 to $428.00 and gave the company an “overweight” rating in a report on Wednesday. BMO Capital Markets boosted their price objective on shares of Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Finally, Truist Financial raised their target price on shares of Lululemon Athletica from $360.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.40.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $392.92 on Friday. The business has a 50-day moving average of $354.43 and a 200 day moving average of $301.28. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $491.30. The stock has a market capitalization of $47.85 billion, a PE ratio of 28.37, a P/E/G ratio of 2.78 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm posted $2.53 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Lululemon Athletica will post 14.17 EPS for the current year.

Insider Activity at Lululemon Athletica

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

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently modified their holdings of the company. Paladin Wealth LLC purchased a new stake in Lululemon Athletica during the third quarter valued at $29,000. JFS Wealth Advisors LLC grew its position in Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 65 shares during the period. HHM Wealth Advisors LLC increased its holdings in Lululemon Athletica by 66.7% during the second quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 46 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Lululemon Athletica in the second quarter worth approximately $36,000. Finally, Armstrong Advisory Group Inc. boosted its stake in shares of Lululemon Athletica by 110.1% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock worth $39,000 after acquiring an additional 76 shares during the last quarter. 85.20% of the stock is owned by 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.