Jefferies Financial Group Equities Analysts Raise Earnings Estimates for Lululemon Athletica Inc. (NASDAQ:LULU)

Lululemon Athletica Inc. (NASDAQ:LULUGet Rating) – Stock analysts at Jefferies Financial Group raised their FY2023 earnings estimates for shares of Lululemon Athletica in a note issued to investors on Monday, January 9th. Jefferies Financial Group analyst R. Konik now anticipates that the apparel retailer will post earnings per share of $9.88 for the year, up from their previous forecast of $9.86. The consensus estimate for Lululemon Athletica’s current full-year earnings is $9.95 per share. Jefferies Financial Group also issued estimates for Lululemon Athletica’s Q4 2023 earnings at $4.22 EPS.

Several other research analysts also recently issued reports on the stock. Argus lowered their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday. Credit Suisse Group raised their price objective on shares of Lululemon Athletica from $390.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, December 5th. UBS Group lowered their price objective on shares of Lululemon Athletica from $395.00 to $390.00 and set a “neutral” rating on the stock in a research report on Friday, December 9th. Piper Sandler lowered their price objective on shares of Lululemon Athletica from $390.00 to $385.00 and set an “overweight” rating on the stock in a research report on Thursday, January 5th. Finally, Guggenheim lowered their target price on shares of Lululemon Athletica from $475.00 to $400.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $408.07.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $311.96 on Wednesday. Lululemon Athletica has a 1 year low of $251.51 and a 1 year high of $410.70. The company has a market capitalization of $39.78 billion, a P/E ratio of 34.28, a PEG ratio of 1.50 and a beta of 1.35. The company’s fifty day moving average is $338.00 and its two-hundred day moving average is $318.00.

Lululemon Athletica (NASDAQ:LULUGet Rating) last announced its quarterly earnings results on Thursday, December 8th. The apparel retailer reported $2.00 EPS for the quarter, topping the consensus estimate of $1.96 by $0.04. Lululemon Athletica had a net margin of 15.66% and a return on equity of 41.13%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the business earned $1.62 EPS. Lululemon Athletica’s revenue for the quarter was up 28.0% compared to the same quarter last year.

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors have recently modified their holdings of LULU. Guardian Wealth Advisors LLC acquired a new position in shares of Lululemon Athletica in the third quarter valued at approximately $26,000. Ronald Blue Trust Inc. acquired a new position in shares of Lululemon Athletica in the second quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Lululemon Athletica by 440.9% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 119 shares of the apparel retailer’s stock valued at $32,000 after buying an additional 97 shares during the last quarter. Venture Visionary Partners LLC acquired a new position in shares of Lululemon Athletica in the second quarter valued at approximately $34,000. Finally, Core Alternative Capital raised its position in shares of Lululemon Athletica by 95.5% in the second quarter. Core Alternative Capital now owns 129 shares of the apparel retailer’s stock valued at $35,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 82.04% of the company’s stock.

Lululemon Athletica Company Profile

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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.

Further Reading

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

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