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

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

Several other research firms have also recently issued reports on LULU. Oppenheimer reduced their price objective on shares of Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Citigroup lifted their price objective on shares of Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price objective on the stock in a research report on Friday, January 10th. TD Cowen lifted their price objective on shares of Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. Finally, Truist Financial lifted their price objective on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $388.93.

Lululemon Athletica Trading Down 3.1 %

NASDAQ LULU opened at $376.66 on Wednesday. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $491.30. The stock has a market cap of $45.87 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.71 and a beta of 1.18. The company’s 50 day moving average is $358.92 and its two-hundred day moving average is $303.06.

Lululemon Athletica (NASDAQ:LULU) last released its 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 net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the business earned $2.53 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts forecast that Lululemon Athletica will post 14.18 EPS for the current year.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction 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 approximately $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 12,429 shares of the company’s stock, valued at $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. Insiders own 0.48% of the company’s stock.

Institutional Trading of Lululemon Athletica

Several institutional investors and hedge funds have recently made changes to their positions in the company. Clarius Group LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $232,000. J2 Capital Management Inc bought a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $486,000. Aaron Wealth Advisors LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $229,000. Wealth Alliance Advisory Group LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $208,000. Finally, Moss Adams Wealth Advisors LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $220,000. 85.20% of the stock is currently owned by institutional investors.

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.