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

Lululemon Athletica (NASDAQ:LULU) had its target price raised by Wells Fargo & Company from $350.00 to $375.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the apparel retailer’s stock.

LULU has been the subject of a number of other reports. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Raymond James upped their target price on Lululemon Athletica from $320.00 to $355.00 in a research report on Thursday, December 5th. Stifel Nicolaus restated a “buy” rating and issued a $438.00 price target (up previously from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Citigroup upped their price objective on shares of Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, TD Cowen raised their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $390.33.

Lululemon Athletica Stock Up 0.7 %

NASDAQ LULU opened at $373.70 on Wednesday. The firm’s 50 day moving average is $361.31 and its 200-day moving average is $304.04. The company has a market capitalization of $45.51 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.71 and a beta of 1.18. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $491.30.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.53 earnings per share. As a group, sell-side analysts expect that Lululemon Athletica will post 14.18 EPS for the current year.

Insiders Place Their Bets

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica stock in a transaction dated Thursday, December 26th. The stock was 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 approximately $2,399,307.78. The trade was a 24.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Paladin Wealth LLC acquired a new stake in shares of Lululemon Athletica during the third quarter worth $29,000. JFS Wealth Advisors LLC grew its holdings in Lululemon Athletica by 127.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 65 shares during the period. Armstrong Advisory Group Inc. raised its position in shares of Lululemon Athletica by 110.1% in 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 in the last quarter. Asset Dedication LLC lifted its stake in shares of Lululemon Athletica by 402.1% in the 3rd quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock valued at $64,000 after purchasing an additional 189 shares during the period. Finally, Avondale Wealth Management bought a new stake in shares of Lululemon Athletica during the 3rd quarter valued at about $68,000. Institutional investors and hedge funds 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.