Morgan Stanley Boosts Lululemon Athletica (NASDAQ:LULU) Price Target to $420.00

Lululemon Athletica (NASDAQ:LULU) had its target price boosted by Morgan Stanley from $414.00 to $420.00 in a research report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the apparel retailer’s stock.

Several other equities research analysts also recently commented on LULU. Piper Sandler lifted their price objective on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Sanford C. Bernstein raised Lululemon Athletica from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $360.00 to $460.00 in a research report on Tuesday, January 7th. TD Securities raised their price objective on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Finally, UBS Group upped their price objective on shares of Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $389.23.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $376.66 on Wednesday. The firm has a market capitalization of $45.87 billion, a P/E ratio of 27.20, a P/E/G ratio of 2.71 and a beta of 1.18. The business’s 50-day moving average is $358.92 and its 200 day moving average is $303.06. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $491.30.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $2.53 EPS. On average, analysts expect that Lululemon Athletica will post 14.18 EPS for the current year.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lululemon Athletica

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after buying an additional 894,531 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in Lululemon Athletica during the third quarter worth approximately $93,476,000. The Manufacturers Life Insurance Company raised its holdings in Lululemon Athletica by 136.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock valued at $143,624,000 after acquiring an additional 305,302 shares during the last quarter. Southpoint Capital Advisors LP purchased a new position in shares of Lululemon Athletica during the 3rd quarter worth $81,405,000. Finally, River Road Asset Management LLC acquired a new stake in shares of Lululemon Athletica during the third quarter worth $79,503,000. 85.20% of the stock is owned by institutional investors and hedge funds.

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.