Lululemon Athletica Target of Unusually High Options Trading (NASDAQ:LULU)

Lululemon Athletica Inc. (NASDAQ:LULU) was the target of unusually large options trading on Wednesday. Stock investors acquired 38,342 call options on the stock. This represents an increase of 64% compared to the typical daily volume of 23,384 call options.

Institutional Investors Weigh In On Lululemon Athletica

Hedge funds have recently bought and sold shares of the stock. N.E.W. Advisory Services LLC purchased a new stake in shares of Lululemon Athletica during the 1st quarter worth $25,000. TCTC Holdings LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth $26,000. Cornerstone Planning Group LLC lifted its position in shares of Lululemon Athletica by 506.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Lululemon Athletica during the 1st quarter worth $29,000. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth $30,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

LULU has been the topic of several recent research reports. Morgan Stanley restated an “equal weight” rating and set a $280.00 target price (down from $346.00) on shares of Lululemon Athletica in a report on Monday. The Goldman Sachs Group reduced their price target on Lululemon Athletica from $363.00 to $302.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets reduced their price target on Lululemon Athletica from $302.00 to $250.00 and set a “market perform” rating on the stock in a report on Friday, June 6th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a report on Thursday, April 3rd. Finally, Bank of America decreased their price objective on Lululemon Athletica from $400.00 to $370.00 and set a “buy” rating on the stock in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $340.26.

Lululemon Athletica Stock Down 2.1%

Shares of LULU opened at $247.03 on Friday. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32. The firm’s 50 day moving average price is $284.92 and its 200 day moving average price is $336.15. The company has a market cap of $29.80 billion, a P/E ratio of 17.84, a PEG ratio of 2.22 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, hitting the consensus estimate of $2.60. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.54 EPS. Research analysts forecast that Lululemon Athletica will post 14.36 earnings per share for the current year.

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.