Lululemon Athletica (NASDAQ:LULU) Given New $437.00 Price Target at Morgan Stanley

Lululemon Athletica (NASDAQ:LULU) had its target price increased by Morgan Stanley from $424.00 to $437.00 in a report published on Friday, Benzinga reports. Morgan Stanley currently has an overweight rating on the apparel retailer’s stock.

Several other equities research analysts also recently issued reports on LULU. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lululemon Athletica from $465.00 to $471.00 in a research note on Friday, June 2nd. Piper Sandler lifted their price objective on Lululemon Athletica from $450.00 to $455.00 and gave the stock an overweight rating in a report on Friday. Raymond James lifted their price target on shares of Lululemon Athletica from $438.00 to $440.00 and gave the stock a strong-buy rating in a research note on Friday. Wedbush increased their price objective on shares of Lululemon Athletica from $415.00 to $420.00 and gave the company a buy rating in a research note on Friday. Finally, Oppenheimer upped their target price on shares of Lululemon Athletica from $400.00 to $450.00 and gave the company an outperform rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of Moderate Buy and an average target price of $435.69.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $404.19 on Friday. The firm’s 50-day simple moving average is $378.66 and its 200-day simple moving average is $358.80. Lululemon Athletica has a 1-year low of $277.50 and a 1-year high of $406.75. The firm has a market cap of $51.36 billion, a P/E ratio of 54.04, a PEG ratio of 1.66 and a beta of 1.42.

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

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LULU. Portside Wealth Group LLC acquired a new position in Lululemon Athletica during the 2nd quarter worth $348,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Lululemon Athletica during the second quarter valued at about $889,000. Old North State Trust LLC lifted its holdings in 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 purchasing an additional 284 shares during the period. Virginia Retirement Systems ET AL bought a new position in Lululemon Athletica in the 2nd quarter valued at about $795,000. Finally, Segment Wealth Management LLC increased its stake in Lululemon Athletica by 5.5% during the 2nd quarter. Segment Wealth Management LLC now owns 2,308 shares of the apparel retailer’s stock valued at $874,000 after buying an additional 120 shares during the period. 91.50% of the stock is owned by 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.