Stock Traders Purchase High Volume of Lululemon Athletica Put Options (NASDAQ:LULU)

Lululemon Athletica Inc. (NASDAQ:LULU) was the recipient of some unusual options trading on Thursday. Stock investors purchased 73,786 put options on the stock. This represents an increase of approximately 106% compared to the typical daily volume of 35,735 put options.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LULU. Robert W. Baird upped their price target on Lululemon Athletica from $520.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Stifel Nicolaus restated a “buy” rating and issued a $539.00 price target (down previously from $596.00) on shares of Lululemon Athletica in a report on Friday, March 22nd. Evercore ISI reduced their target price on Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Wells Fargo & Company reduced their target price on Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating on the stock in a research note on Friday, March 22nd. Finally, Citigroup reduced their target price on Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have given 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 an average target price of $485.39.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock opened at $347.51 on Friday. The business has a 50-day moving average of $422.44 and a 200-day moving average of $438.62. The company has a market capitalization of $43.79 billion, a PE ratio of 28.46, a P/E/G ratio of 1.20 and a beta of 1.30. Lululemon Athletica has a 1-year low of $326.93 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating the consensus estimate of $5.00 by $0.29. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The company’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $4.40 earnings per share. On average, equities analysts expect that Lululemon Athletica will post 14.15 earnings per share for the current fiscal year.

Insider Activity at Lululemon Athletica

In related news, Director Martha A. M. Morfitt purchased 700 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

Several large investors have recently modified their holdings of LULU. MetLife Investment Management LLC bought a new position in Lululemon Athletica in the first quarter worth about $2,696,000. Panagora Asset Management Inc. raised its holdings in shares of Lululemon Athletica by 48.4% during the first quarter. Panagora Asset Management Inc. now owns 1,647 shares of the apparel retailer’s stock valued at $602,000 after buying an additional 537 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Lululemon Athletica by 2.5% during the first quarter. Yousif Capital Management LLC now owns 4,022 shares of the apparel retailer’s stock valued at $1,469,000 after buying an additional 100 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Lululemon Athletica by 6.5% during the first quarter. Raymond James Trust N.A. now owns 1,251 shares of the apparel retailer’s stock valued at $457,000 after buying an additional 76 shares during the last quarter. Finally, Prudential PLC acquired a new position in shares of Lululemon Athletica during the first quarter valued at approximately $774,000. Institutional investors own 85.20% of the company’s stock.

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.