Wedbush Raises Lululemon Athletica (NASDAQ:LULU) Price Target to $245.00

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Lululemon Athletica (NASDAQ:LULU) had its price target lifted by Wedbush from $235.00 to $245.00 in a research report sent to investors on Monday, The Fly reports. They currently have a neutral rating on the apparel retailer’s stock. Wedbush also issued estimates for Lululemon Athletica’s Q4 2020 earnings at $2.26 EPS, FY2020 earnings at $4.91 EPS, Q4 2021 earnings at $2.60 EPS, FY2021 earnings at $5.68 EPS and FY2022 earnings at $6.65 EPS.

Several other research analysts have also recently weighed in on LULU. Credit Suisse Group boosted their price objective on Lululemon Athletica from $235.00 to $250.00 in a research report on Thursday, December 12th. UBS Group boosted their price objective on Lululemon Athletica from $210.00 to $230.00 and gave the stock a neutral rating in a research report on Tuesday, December 3rd. Barclays started coverage on Lululemon Athletica in a research report on Monday, November 25th. They issued an overweight rating and a $257.00 price objective on the stock. Morgan Stanley boosted their price objective on Lululemon Athletica from $169.00 to $214.00 and gave the stock an equal weight rating in a research report on Friday, December 13th. Finally, Guggenheim reissued a buy rating and issued a $250.00 price objective on shares of Lululemon Athletica in a research report on Wednesday, December 11th. Fourteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $237.03.

Shares of NASDAQ:LULU opened at $243.49 on Monday. The stock has a market cap of $31.76 billion, a price-to-earnings ratio of 63.41, a PEG ratio of 2.81 and a beta of 0.68. The company has a quick ratio of 1.43, a current ratio of 2.53 and a debt-to-equity ratio of 0.34. Lululemon Athletica has a 12-month low of $141.01 and a 12-month high of $247.51. The business’s 50 day moving average is $230.32 and its 200 day moving average is $202.65.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, December 11th. The apparel retailer reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.03. The company had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $897.58 million. Lululemon Athletica had a return on equity of 39.71% and a net margin of 15.10%. Lululemon Athletica’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities research analysts expect that Lululemon Athletica will post 4.94 earnings per share for the current year.

In other Lululemon Athletica news, COO Stuart Haselden sold 27,451 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $232.78, for a total value of $6,390,043.78. Following the sale, the chief operating officer now directly owns 15,247 shares in the company, valued at $3,549,196.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David M. Mussafer sold 4,673 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $217.00, for a total value of $1,014,041.00. Following the completion of the sale, the director now owns 18,947 shares in the company, valued at $4,111,499. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Several large investors have recently added to or reduced their stakes in LULU. Amundi Pioneer Asset Management Inc. raised its stake in shares of Lululemon Athletica by 6.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 72,706 shares of the apparel retailer’s stock valued at $11,914,000 after purchasing an additional 4,589 shares during the period. Commonwealth Bank of Australia raised its stake in shares of Lululemon Athletica by 35.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 259 shares of the apparel retailer’s stock valued at $45,000 after purchasing an additional 68 shares during the period. MML Investors Services LLC raised its stake in shares of Lululemon Athletica by 16.8% during the 2nd quarter. MML Investors Services LLC now owns 5,733 shares of the apparel retailer’s stock valued at $1,033,000 after purchasing an additional 826 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Lululemon Athletica by 6.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 212,347 shares of the apparel retailer’s stock valued at $38,267,000 after purchasing an additional 11,980 shares during the period. Finally, United Capital Financial Advisers LLC raised its stake in shares of Lululemon Athletica by 7.9% during the 2nd quarter. United Capital Financial Advisers LLC now owns 2,948 shares of the apparel retailer’s stock valued at $531,000 after purchasing an additional 215 shares during the period. Institutional investors own 79.82% of the company’s stock.

About Lululemon Athletica

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.

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