Lululemon Athletica (LULU) Reaches New 1-Year High and Low After Analyst Upgrade

Lululemon Athletica (NASDAQ:LULU) reached a new 52-week high and low during mid-day trading on Tuesday after JPMorgan Chase raised their price target on the stock to $107.00. JPMorgan Chase currently has an overweight rating on the stock. Lululemon Athletica traded as low as $94.85 and last traded at $94.67, with a volume of 903539 shares trading hands. The stock had previously closed at $93.76.

A number of other research analysts have also commented on LULU. Credit Suisse Group upped their price objective on shares of Lululemon Athletica from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, April 13th. Morgan Stanley upped their price objective on shares of Lululemon Athletica from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 10th. BidaskClub raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Wolfe Research raised shares of Lululemon Athletica from a “peer perform” rating to an “outperform” rating and set a $101.00 price objective for the company in a research report on Thursday, March 29th. Finally, William Blair reaffirmed a “buy” rating on shares of Lululemon Athletica in a research report on Wednesday, March 28th. Sixteen investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Lululemon Athletica has a consensus rating of “Buy” and an average target price of $82.14.

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In related news, major shareholder Dennis J. Wilson sold 722,134 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $77.47, for a total value of $55,943,720.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in Lululemon Athletica in the fourth quarter worth about $371,000. Grandeur Peak Global Advisors LLC increased its holdings in shares of Lululemon Athletica by 5.8% during the fourth quarter. Grandeur Peak Global Advisors LLC now owns 109,750 shares of the apparel retailer’s stock worth $8,625,000 after buying an additional 5,975 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of Lululemon Athletica by 6.1% during the fourth quarter. Xact Kapitalforvaltning AB now owns 19,188 shares of the apparel retailer’s stock worth $1,508,000 after buying an additional 1,096 shares in the last quarter. Delek Group Ltd. acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth approximately $6,145,000. Finally, William Blair Investment Management LLC increased its holdings in shares of Lululemon Athletica by 12.5% during the fourth quarter. William Blair Investment Management LLC now owns 17,155 shares of the apparel retailer’s stock worth $1,348,000 after buying an additional 1,909 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

The firm has a market capitalization of $12,422.58, a price-to-earnings ratio of 36.53, a P/E/G ratio of 2.28 and a beta of 0.19.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Tuesday, March 27th. The apparel retailer reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.06. The company had revenue of $929.00 million during the quarter, compared to analyst estimates of $912.41 million. Lululemon Athletica had a net margin of 9.76% and a return on equity of 24.59%. The company’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share. sell-side analysts anticipate that Lululemon Athletica will post 3.08 EPS for the current year.

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About Lululemon Athletica

lululemon athletica inc., an athletic apparel company, together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga and running; other sweaty pursuits; and athletic wear for female youth.

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