Lululemon Athletica (NASDAQ:LULU) Price Target Increased to $400.00 by Analysts at KeyCorp

Posted by on Jun 3rd, 2023

Lululemon Athletica (NASDAQ:LULU – Get Rating) had its price target raised by KeyCorp from $390.00 to $400.00 in a report released on Friday, The Fly reports.

Other analysts have also issued research reports about the company. Barclays boosted their price target on Lululemon Athletica from $368.00 to $413.00 in a report on Thursday, March 30th. Wells Fargo & Company upped their price objective on Lululemon Athletica from $380.00 to $425.00 and gave the stock an overweight rating in a research note on Wednesday, March 29th. StockNews.com initiated coverage on Lululemon Athletica in a research note on Thursday, May 18th. They issued a hold rating for the company. Deutsche Bank Aktiengesellschaft upped their price objective on Lululemon Athletica from $465.00 to $471.00 in a research note on Friday. Finally, Robert W. Baird upped their price objective on Lululemon Athletica from $410.00 to $425.00 and gave the stock an outperform rating in a research note on Wednesday, March 29th. Three analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $410.96.

Lululemon Athletica Price Performance

Shares of LULU opened at $365.44 on Friday. Lululemon Athletica has a one year low of $258.79 and a one year high of $389.06. The firm has a market capitalization of $46.47 billion, a P/E ratio of 48.86, a PEG ratio of 1.41 and a beta of 1.40. The business has a fifty day moving average of $365.03 and a 200 day moving average of $337.50.

Lululemon Athletica (NASDAQ:LULU – Get Rating) last issued its quarterly earnings data on Thursday, June 1st. The apparel retailer reported $2.28 EPS for the quarter, topping the consensus estimate of $1.97 by $0.31. Lululemon Athletica had a return on equity of 46.08% and a net margin of 11.24%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. Lululemon Athletica’s revenue was up 24.0% compared to the same quarter last year. Analysts expect that Lululemon Athletica will post 11.62 EPS for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, insider Celeste Burgoyne sold 17,343 shares of the stock in a transaction on Friday, March 31st. The stock was sold at an average price of $362.00, for a total transaction of $6,278,166.00. Following the sale, the insider now owns 15,302 shares of the company’s stock, valued at approximately $5,539,324. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Synovus Financial Corp grew its stake in Lululemon Athletica by 8.6% during the 4th quarter. Synovus Financial Corp now owns 8,628 shares of the apparel retailer’s stock worth $2,764,000 after buying an additional 684 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its stake in Lululemon Athletica by 3.5% during the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 7,625 shares of the apparel retailer’s stock worth $2,132,000 after buying an additional 257 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Lululemon Athletica by 91.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,870 shares of the apparel retailer’s stock worth $599,000 after acquiring an additional 893 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Lululemon Athletica by 8.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,063 shares of the apparel retailer’s stock worth $1,622,000 after acquiring an additional 384 shares during the period. Finally, Citigroup Inc. lifted its position in Lululemon Athletica by 5.8% during the 4th quarter. Citigroup Inc. now owns 104,128 shares of the apparel retailer’s stock worth $33,361,000 after acquiring an additional 5,726 shares during the period. 82.04% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Company Profile

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lululemon athletica, Inc engages in the business of designing, distributing, and retailing technical athletic apparel, footwear, and accessories. It operates through the following segments: Company-Operated Stores, Direct to Consumer, and Other. The company was founded by Dennis James Wilson in 1998 and is headquartered in Vancouver, Canada.

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