Lululemon Athletica (NASDAQ:LULU) Now Covered by Needham & Company LLC

Needham & Company LLC began coverage on shares of Lululemon Athletica (NASDAQ:LULU) in a research note issued to investors on Friday, Marketbeat reports. The brokerage issued a hold rating on the apparel retailer’s stock.

Several other analysts also recently commented on the company. Piper Sandler raised their target price on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. TD Securities raised their price objective on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research note on Friday, August 30th. TD Cowen lowered their target price on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group reissued an “underperform” rating and issued a $220.00 price target on shares of Lululemon Athletica in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $357.13.

Lululemon Athletica Stock Performance

Shares of LULU opened at $317.11 on Friday. The firm has a market cap of $38.93 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.24. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $516.39. The business’s 50 day moving average price is $291.83 and its two-hundred day moving average price is $288.87.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. Lululemon Athletica’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.68 EPS. Research analysts predict that Lululemon Athletica will post 14.02 EPS for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. This represents a 4.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 7.27 % 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.

Institutional Investors Weigh In On Lululemon Athletica

Several large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares during the period. Paladin Wealth LLC purchased a new stake in shares of Lululemon Athletica during the 3rd quarter valued at approximately $29,000. Versant Capital Management Inc boosted its holdings in Lululemon Athletica by 61.5% in the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after buying an additional 40 shares during the period. JFS Wealth Advisors LLC grew its stake in Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 65 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Lululemon Athletica during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

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.