Wedbush Reiterates Outperform Rating for Lululemon Athletica (NASDAQ:LULU)

Lululemon Athletica (NASDAQ:LULU)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a research report issued on Wednesday, Benzinga reports. They currently have a $415.00 price objective on the apparel retailer’s stock. Wedbush’s target price would indicate a potential upside of 8.85% from the company’s current price. Wedbush also issued estimates for Lululemon Athletica’s Q3 2024 earnings at $2.20 EPS.

Other analysts have also issued research reports about the stock. Citigroup set a $450.00 target price on shares of Lululemon Athletica and gave the stock a “buy” rating in a research note on Friday, August 25th. KeyCorp upped their target price on shares of Lululemon Athletica from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 25th. Morgan Stanley upped their target price on shares of Lululemon Athletica from $405.00 to $424.00 in a research note on Friday, June 2nd. BMO Capital Markets upped their target price on shares of Lululemon Athletica from $340.00 to $355.00 in a research note on Friday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Lululemon Athletica from $465.00 to $471.00 in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $423.27.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU opened at $381.26 on Wednesday. Lululemon Athletica has a 1 year low of $277.50 and a 1 year high of $394.64. The company has a 50 day simple moving average of $378.06 and a 200 day simple moving average of $358.19. The firm has a market cap of $48.44 billion, a PE ratio of 50.97, a price-to-earnings-growth ratio of 1.66 and a beta of 1.42.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.14. Lululemon Athletica had a net margin of 11.24% and a return on equity of 44.94%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the business earned $2.20 EPS. The company’s revenue was up 17.8% compared to the same quarter last year. As a group, research analysts anticipate that Lululemon Athletica will post 11.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently modified their holdings of the company. CTC Alternative Strategies Ltd. purchased a new stake in shares of Lululemon Athletica in the second quarter worth about $889,000. Old North State Trust LLC lifted its holdings in shares of Lululemon Athletica by 33.4% in the second quarter. Old North State Trust LLC now owns 1,134 shares of the apparel retailer’s stock worth $429,000 after buying an additional 284 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Lululemon Athletica in the second quarter valued at approximately $795,000. Segment Wealth Management LLC raised its stake in Lululemon Athletica by 5.5% in the second quarter. Segment Wealth Management LLC now owns 2,308 shares of the apparel retailer’s stock valued at $874,000 after purchasing an additional 120 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in Lululemon Athletica by 250.5% in the second quarter. Orion Portfolio Solutions LLC now owns 3,961 shares of the apparel retailer’s stock valued at $1,499,000 after purchasing an additional 2,831 shares in the last quarter. 91.50% of the stock is owned by hedge funds and other institutional investors.

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.