Lululemon Athletica (NASDAQ:LULU) Issues FY 2022 Earnings Guidance

Lululemon Athletica (NASDAQ:LULUGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $9.75-$9.90 for the period, compared to the consensus estimate of $9.44. The company issued revenue guidance of $7.87 billion-$7.94 billion, compared to the consensus revenue estimate of $7.69 billion. Lululemon Athletica also updated its Q3 2022 guidance to $1.90-$1.95 EPS.

Wall Street Analysts Forecast Growth

LULU has been the topic of several research analyst reports. The Goldman Sachs Group upped their target price on Lululemon Athletica from $365.00 to $383.00 in a research report on Friday, September 2nd. Barclays raised their price target on shares of Lululemon Athletica from $435.00 to $446.00 and gave the stock an overweight rating in a research note on Tuesday, September 6th. Wells Fargo & Company decreased their price objective on Lululemon Athletica from $370.00 to $345.00 and set an equal weight rating on the stock in a research note on Friday, June 3rd. Stifel Nicolaus lifted their price target on Lululemon Athletica from $381.00 to $400.00 and gave the company a buy rating in a research report on Friday, September 2nd. Finally, Cowen increased their target price on shares of Lululemon Athletica from $505.00 to $512.00 and gave the company an outperform rating in a report on Tuesday, August 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $403.69.

Lululemon Athletica Stock Down 3.7 %

Shares of LULU opened at $306.30 on Friday. The stock has a 50 day moving average price of $316.97 and a 200 day moving average price of $315.88. Lululemon Athletica has a 52-week low of $251.51 and a 52-week high of $485.83. The company has a market capitalization of $39.06 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29.

Lululemon Athletica (NASDAQ:LULUGet Rating) last released its quarterly earnings data on Thursday, September 1st. The apparel retailer reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.34. Lululemon Athletica had a return on equity of 40.95% and a net margin of 15.60%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business posted $1.65 earnings per share. Lululemon Athletica’s revenue was up 28.8% compared to the same quarter last year. On average, equities analysts anticipate that Lululemon Athletica will post 9.87 EPS for the current fiscal year.

Insider Transactions at Lululemon Athletica

In other news, Director Kathryn Henry sold 189 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $351.80, for a total value of $66,490.20. Following the sale, the director now owns 4,102 shares in the company, valued at approximately $1,443,083.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Hedge funds have recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Lululemon Athletica by 60.2% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 197 shares of the apparel retailer’s stock worth $72,000 after acquiring an additional 74 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Lululemon Athletica by 161.5% in the 1st quarter. Brown Brothers Harriman & Co. now owns 442 shares of the apparel retailer’s stock worth $161,000 after purchasing an additional 273 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of Lululemon Athletica by 33.7% in the first quarter. Forum Financial Management LP now owns 765 shares of the apparel retailer’s stock valued at $279,000 after buying an additional 193 shares during the last quarter. Centaurus Financial Inc. raised its position in Lululemon Athletica by 103.5% in the 1st quarter. Centaurus Financial Inc. now owns 883 shares of the apparel retailer’s stock worth $322,000 after purchasing an additional 449 shares during the last quarter. Finally, Fund Management at Engine No. 1 LLC bought a new position in shares of Lululemon Athletica in the 1st quarter valued at about $363,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.

About Lululemon Athletica

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lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in 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.

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Earnings History and Estimates for Lululemon Athletica (NASDAQ:LULU)

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