Wells Fargo & Company Issues Positive Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price objective raised by Wells Fargo & Company from $350.00 to $375.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the apparel retailer’s stock.

A number of other equities research analysts have also commented on the company. TD Securities upped their target price on Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Raymond James upped their target price on Lululemon Athletica from $320.00 to $355.00 in a research report on Thursday, December 5th. Morgan Stanley upped their target price on Lululemon Athletica from $345.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Telsey Advisory Group upped their target price on Lululemon Athletica from $430.00 to $445.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Guggenheim upped their target price on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average price target of $388.93.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $376.66 on Wednesday. The company has a market capitalization of $45.87 billion, a PE ratio of 27.20, a P/E/G ratio of 2.71 and a beta of 1.18. The company has a 50-day simple moving average of $358.92 and a two-hundred day simple moving average of $303.06. Lululemon Athletica has a one year low of $226.01 and a one year high of $491.30.

Lululemon Athletica (NASDAQ:LULU) last posted 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. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the company posted $2.53 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts predict that Lululemon Athletica will post 14.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds have recently modified their holdings of LULU. International Assets Investment Management LLC grew its holdings in shares of Lululemon Athletica by 74,856.2% during the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after purchasing an additional 894,531 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Lululemon Athletica during the 3rd quarter worth $93,476,000. The Manufacturers Life Insurance Company grew its holdings in shares of Lululemon Athletica by 136.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after purchasing an additional 305,302 shares during the period. Southpoint Capital Advisors LP purchased a new position in shares of Lululemon Athletica during the 3rd quarter worth $81,405,000. Finally, River Road Asset Management LLC purchased a new position in shares of Lululemon Athletica during the 3rd quarter worth $79,503,000. 85.20% of the stock is currently owned by hedge funds and other 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.