Lululemon Athletica (NASDAQ:LULU) Given Market Perform Rating at CICC Research

CICC Research reaffirmed their market perform rating on shares of Lululemon Athletica (NASDAQ:LULU) in a research note issued to investors on Monday morning,Benzinga reports. CICC Research currently has a $280.49 price objective on the apparel retailer’s stock.

A number of other analysts have also recently commented on the stock. Piper Sandler upped their price target on shares of Lululemon Athletica from $280.00 to $315.00 and gave the company a “neutral” rating in a research note on Tuesday, June 3rd. Bank of America lowered their target price on shares of Lululemon Athletica from $400.00 to $370.00 and set a “buy” rating on the stock in a report on Friday. Stifel Nicolaus reduced their price objective on shares of Lululemon Athletica from $353.00 to $324.00 and set a “buy” rating for the company in a research note on Friday. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lululemon Athletica in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lululemon Athletica from $389.00 to $303.00 and set an “overweight” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $340.26.

Lululemon Athletica Price Performance

Shares of LULU opened at $259.04 on Monday. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32. The stock’s fifty day moving average price is $285.46 and its two-hundred day moving average price is $337.84. The firm has a market cap of $31.25 billion, a PE ratio of 18.70, a PEG ratio of 2.22 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.60. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.54 EPS. Sell-side analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

About Lululemon Athletica

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.