Lululemon Athletica’s (LULU) Outperform Rating Reiterated at Raymond James

Raymond James reaffirmed their outperform rating on shares of Lululemon Athletica (NASDAQ:LULU) in a report published on Wednesday morning,Benzinga reports. Raymond James currently has a $430.00 price target on the apparel retailer’s stock, up from their prior price target of $400.00.

Several other brokerages also recently issued reports on LULU. Stifel Nicolaus reissued a “buy” rating and set a $438.00 price objective (up previously from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. TD Securities lifted their price target on Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price objective on Lululemon Athletica from $425.00 to $428.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Evercore ISI lifted their target price on Lululemon Athletica from $300.00 to $355.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, Morgan Stanley upped their price target on Lululemon Athletica from $345.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $390.33.

Lululemon Athletica Stock Up 0.7 %

LULU opened at $373.70 on Wednesday. The company has a fifty day simple moving average of $361.31 and a 200 day simple moving average of $304.04. The stock has a market cap of $45.51 billion, a P/E ratio of 26.98, a P/E/G 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 results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping 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 company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm posted $2.53 earnings per share. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Lululemon Athletica will post 14.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the company’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 value of $782,736.42. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of Lululemon Athletica

Several hedge funds have recently added to or reduced their stakes in LULU. Paladin Wealth LLC bought a new position in Lululemon Athletica during the 3rd quarter worth $29,000. JFS Wealth Advisors LLC grew its stake in shares of Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 65 shares in the last quarter. Armstrong Advisory Group Inc. increased its position in Lululemon Athletica by 110.1% during the third 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 period. Asset Dedication LLC raised its stake in Lululemon Athletica by 402.1% in the 3rd quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock worth $64,000 after purchasing an additional 189 shares in the last quarter. Finally, Avondale Wealth Management bought a new stake in Lululemon Athletica in the 3rd quarter valued at about $68,000. 85.20% of the stock is 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.