Lululemon Athletica (NASDAQ:LULU) Given New $400.00 Price Target at Evercore ISI

Lululemon Athletica (NASDAQ:LULU) had its price target boosted by Evercore ISI from $320.00 to $400.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the apparel retailer’s stock.

Several other research analysts have also recently commented on the company. Barclays reduced their price target on Lululemon Athletica from $309.00 to $276.00 and set an “equal weight” rating for the company in a research report on Monday, May 12th. Morgan Stanley reduced their price target on Lululemon Athletica from $373.00 to $346.00 and set an “overweight” rating for the company in a research report on Wednesday, May 28th. Citigroup increased their price target on Lululemon Athletica from $275.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Stifel Nicolaus dropped their price objective on Lululemon Athletica from $424.00 to $353.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Truist Financial dropped their price objective on Lululemon Athletica from $380.00 to $297.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $367.10.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $334.91 on Tuesday. The stock has a 50 day moving average price of $284.42 and a 200 day moving average price of $338.00. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The stock has a market capitalization of $40.40 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.22 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the firm posted $5.29 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts forecast that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Investors Weigh In On Lululemon Athletica

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Lululemon Athletica by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 13,266,929 shares of the apparel retailer’s stock valued at $3,755,337,000 after purchasing an additional 157,764 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Lululemon Athletica by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,010,908 shares of the apparel retailer’s stock valued at $1,418,389,000 after purchasing an additional 162,295 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Lululemon Athletica by 9.0% in the 1st quarter. Alliancebernstein L.P. now owns 4,792,294 shares of the apparel retailer’s stock valued at $1,356,507,000 after purchasing an additional 394,706 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lululemon Athletica by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer’s stock valued at $947,682,000 after purchasing an additional 10,461 shares in the last quarter. Finally, Capital World Investors boosted its holdings in shares of Lululemon Athletica by 34.6% in the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock valued at $827,338,000 after purchasing an additional 556,406 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.