Wells Fargo & Company Forecasts Strong Price Appreciation for Lululemon Athletica (NASDAQ:LULU) Stock

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

A number of other research firms have also recently commented on LULU. Piper Sandler upped their price objective on Lululemon Athletica from $260.00 to $340.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. William Blair reaffirmed an "outperform" rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Telsey Advisory Group upped their target price on shares of Lululemon Athletica from $430.00 to $445.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Barclays lifted their price target on shares of Lululemon Athletica from $261.00 to $378.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. Two 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $390.33.

Lululemon Athletica Stock Down 1.5 %

Shares of NASDAQ LULU traded down $5.67 during trading on Wednesday, reaching $370.99. 1,801,675 shares of the company traded hands, compared to its average volume of 1,651,390. The firm has a 50 day simple moving average of $360.19 and a 200-day simple moving average of $303.57. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $491.30. The stock has a market capitalization of $45.18 billion, a PE ratio of 26.79, a P/E/G ratio of 2.71 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $2.53 earnings per share. As a group, research analysts predict that Lululemon Athletica will post 14.18 EPS for the current year.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the transaction, the insider now owns 6,198 shares of the company's stock, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the sale, the insider now directly owns 12,429 shares in the company, valued at $5,040,456.66. The trade was a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SeaCrest Wealth Management LLC raised its holdings in Lululemon Athletica by 2.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer's stock valued at $389,000 after buying an additional 26 shares during the period. Sunbelt Securities Inc. raised its stake in shares of Lululemon Athletica by 4.6% in the third quarter. Sunbelt Securities Inc. now owns 950 shares of the apparel retailer's stock valued at $258,000 after acquiring an additional 42 shares during the period. First Pacific Financial boosted its stake in shares of Lululemon Athletica by 1.4% during the 4th quarter. First Pacific Financial now owns 3,096 shares of the apparel retailer's stock worth $1,184,000 after purchasing an additional 44 shares during the period. Claro Advisors LLC grew its holdings in Lululemon Athletica by 5.6% during the 4th quarter. Claro Advisors LLC now owns 902 shares of the apparel retailer's stock valued at $345,000 after purchasing an additional 48 shares during the last quarter. Finally, Howard Financial Services LTD. raised its position in Lululemon Athletica by 5.7% in the 4th quarter. Howard Financial Services LTD. now owns 884 shares of the apparel retailer's stock worth $338,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 85.20% of the company's stock.

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.