Lululemon Athletica (NASDAQ:LULU) Shares Up 0.2% After Analyst Upgrade

Lululemon Athletica Inc. (NASDAQ:LULU - Get Free Report) shares rose 0.2% on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $291.00 to $292.00. Deutsche Bank Aktiengesellschaft currently has a neutral rating on the stock. Lululemon Athletica traded as high as $270.00 and last traded at $259.47. Approximately 7,373,300 shares changed hands during mid-day trading, an increase of 245% from the average daily volume of 2,135,794 shares. The stock had previously closed at $259.01.

A number of other research analysts have also recently issued reports on LULU. UBS Group reduced their price objective on Lululemon Athletica from $385.00 to $315.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 20th. Piper Sandler raised their target price on Lululemon Athletica from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday. Stifel Nicolaus decreased their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. The Goldman Sachs Group lowered shares of Lululemon Athletica from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $463.00 to $286.00 in a research note on Friday, August 2nd. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $300.00 target price on shares of Lululemon Athletica in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica currently has an average rating of "Moderate Buy" and a consensus price target of $354.94.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds have recently made changes to their positions in the business. Value Star Asset Management Hong Kong Ltd increased its holdings in Lululemon Athletica by 19,890.3% in the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer's stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Lululemon Athletica by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer's stock worth $4,955,918,000 after purchasing an additional 2,369,119 shares during the last quarter. Norges Bank purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth about $236,378,000. Marshall Wace LLP boosted its stake in Lululemon Athletica by 359.4% during the second quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer's stock valued at $61,084,000 after buying an additional 283,344 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Lululemon Athletica by 32.7% during the 4th quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer's stock valued at $534,815,000 after buying an additional 257,944 shares in the last quarter. Institutional investors own 85.20% of the company's stock.

Lululemon Athletica Trading Up 0.2 %

The firm has a market cap of $32.43 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.40 and a beta of 1.26. The stock has a 50 day simple moving average of $271.56 and a 200-day simple moving average of $338.17.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping analysts' consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The business had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same period last year, the company posted $2.68 EPS. The business's revenue was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Lululemon Athletica Inc. will post 13.9 earnings per share for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has approved a share buyback program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

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.