Lululemon Athletica (NASDAQ:LULU) PT Raised to $520.00 at Oppenheimer

Lululemon Athletica (NASDAQ:LULU) had its price target hoisted by analysts at Oppenheimer from $405.00 to $520.00 in a report issued on Friday, The Fly reports. The firm presently has an “outperform” rating on the apparel retailer’s stock. Oppenheimer’s target price suggests a potential upside of 21.94% from the company’s current price.

Several other equities research analysts have also weighed in on LULU. KGI Securities started coverage on Lululemon Athletica in a report on Tuesday, July 6th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Lululemon Athletica from $436.00 to $474.00 and gave the stock a “buy” rating in a report on Thursday, September 9th. MKM Partners boosted their target price on Lululemon Athletica from $390.00 to $419.00 and gave the stock a “buy” rating in a report on Tuesday, September 7th. Telsey Advisory Group upped their price target on Lululemon Athletica from $460.00 to $485.00 and gave the stock an “outperform” rating in a report on Thursday, September 9th. Finally, Guggenheim upped their price target on Lululemon Athletica from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, September 9th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $448.32.

NASDAQ:LULU opened at $426.44 on Friday. Lululemon Athletica has a fifty-two week low of $269.28 and a fifty-two week high of $434.22. The stock’s 50-day moving average is $398.83 and its two-hundred day moving average is $351.42. The stock has a market cap of $55.50 billion, a PE ratio of 67.47, a price-to-earnings-growth ratio of 3.06 and a beta of 1.36.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Tuesday, September 7th. The apparel retailer reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.46. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Lululemon Athletica had a return on equity of 34.16% and a net margin of 14.96%. The business’s revenue for the quarter was up 60.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. Sell-side analysts forecast that Lululemon Athletica will post 7.58 EPS for the current year.

In other news, insider Celeste Burgoyne sold 14,362 shares of the company’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $366.95, for a total transaction of $5,270,135.90. Following the transaction, the insider now owns 9,477 shares of the company’s stock, valued at $3,477,585.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Calvin Mcdonald sold 10,000 shares of the stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $427.37, for a total value of $4,273,700.00. Following the completion of the transaction, the chief executive officer now directly owns 53,409 shares in the company, valued at approximately $22,825,404.33. The disclosure for this sale can be found here. Insiders have sold 45,585 shares of company stock worth $18,558,305 in the last 90 days. Company insiders own 0.39% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership acquired a new stake in shares of Lululemon Athletica during the first quarter worth about $202,758,000. Price T Rowe Associates Inc. MD raised its position in shares of Lululemon Athletica by 6.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,628,764 shares of the apparel retailer’s stock worth $3,149,240,000 after purchasing an additional 540,785 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Lululemon Athletica during the first quarter worth about $143,990,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Lululemon Athletica during the second quarter worth about $127,445,000. Finally, American Century Companies Inc. raised its position in shares of Lululemon Athletica by 41.7% during the second quarter. American Century Companies Inc. now owns 1,172,144 shares of the apparel retailer’s stock worth $427,797,000 after purchasing an additional 344,667 shares during the period. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

About Lululemon Athletica

lululemon athletica, Inc engages in the designing, distributing and retail of athletic apparel and accessories. It company operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize in athletic wear for female youth.

Further Reading: Why is the price-sales ratio important?

The Fly logo

Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

Receive News & Ratings for Lululemon Athletica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica and related companies with MarketBeat.com's FREE daily email newsletter.