Lululemon Athletica (NASDAQ:LULU) Given New $302.00 Price Target at BMO Capital Markets

Lululemon Athletica (NASDAQ:LULU) had its target price raised by BMO Capital Markets from $265.00 to $302.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the apparel retailer’s stock.

A number of other analysts have also recently commented on the company. Barclays reduced their price target on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Jefferies Financial Group reiterated an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research report on Monday, December 2nd. Evercore ISI increased their price target on Lululemon Athletica from $300.00 to $355.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Guggenheim increased their price target on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price target on Lululemon Athletica from $338.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $379.52.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $399.60 on Friday. The stock has a market cap of $49.06 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 2.50 and a beta of 1.23. Lululemon Athletica has a one year low of $226.01 and a one year high of $516.39. The stock has a fifty day moving average of $303.40 and a 200 day moving average of $287.81.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. Lululemon Athletica’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 earnings per share. As a group, sell-side analysts predict that Lululemon Athletica will post 13.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was 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 directly owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. American Trust acquired a new position in Lululemon Athletica during the third quarter worth $785,000. Synovus Financial Corp lifted its stake in Lululemon Athletica by 46.4% during the third quarter. Synovus Financial Corp now owns 4,191 shares of the apparel retailer’s stock worth $1,137,000 after purchasing an additional 1,329 shares in the last quarter. Tidal Investments LLC lifted its stake in Lululemon Athletica by 19.0% during the third quarter. Tidal Investments LLC now owns 11,406 shares of the apparel retailer’s stock worth $3,095,000 after purchasing an additional 1,822 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Lululemon Athletica during the third quarter worth $249,000. Finally, Sfmg LLC acquired a new position in Lululemon Athletica during the third quarter worth $2,984,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.