5. GENDER EQUALITY

Lululemon Athletica (NASDAQ:LULU) Price Target Increased to $315.00 by Analysts at Morgan Stanley – MarketBeat

Written by Amanda

Lululemon Athletica (NASDAQ:LULUGet Rating) had its price objective hoisted by equities researchers at Morgan Stanley from $303.00 to $315.00 in a report released on Thursday, The Fly reports. Morgan Stanley’s price objective suggests a potential upside of 13.31% from the company’s current price.

Several other research analysts have also recently weighed in on LULU. Truist Financial upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and increased their price objective for the stock from $390.00 to $495.00 in a research report on Tuesday, April 19th. KGI Securities cut Lululemon Athletica from an “outperform” rating to a “neutral” rating in a research report on Monday, May 23rd. Wells Fargo & Company decreased their price target on Lululemon Athletica from $370.00 to $345.00 and set an “equal weight” rating on the stock in a research report on Friday, June 3rd. MKM Partners raised their price target on Lululemon Athletica from $438.00 to $447.00 in a research report on Wednesday, March 30th. Finally, BMO Capital Markets decreased their price target on Lululemon Athletica from $344.00 to $304.00 in a research report on Friday, June 3rd. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $423.88.

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Shares of NASDAQ:LULU opened at $278.00 on Thursday. The stock has a market capitalization of $35.48 billion, a P/E ratio of 35.32, a P/E/G ratio of 1.54 and a beta of 1.30. The business has a 50-day moving average price of $324.90 and a two-hundred day moving average price of $341.24. Lululemon Athletica has a 1-year low of $251.51 and a 1-year high of $485.83.

Lululemon Athletica (NASDAQ:LULUGet Rating) last released its quarterly earnings results on Thursday, June 2nd. The apparel retailer reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. Lululemon Athletica had a return on equity of 39.23% and a net margin of 15.36%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The business’s revenue was up 31.6% on a year-over-year basis. Sell-side analysts expect that Lululemon Athletica will post 9.46 EPS for the current fiscal year.

Lululemon Athletica announced that its board has approved a stock buyback plan on Tuesday, March 29th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional investors have recently made changes to their positions in the stock. Vienna Asset Management LLC bought a new stake in Lululemon Athletica during the fourth quarter worth $117,000. Cambridge Trust Co. boosted its position in Lululemon Athletica by 1.4% in the third quarter. Cambridge Trust Co. now owns 41,984 shares of the apparel retailer’s stock worth $16,991,000 after purchasing an additional 577 shares during the last quarter. Belpointe Asset Management LLC boosted its position in Lululemon Athletica by 3.6% in the fourth quarter. Belpointe Asset Management LLC now owns 2,536 shares of the apparel retailer’s stock worth $993,000 after purchasing an additional 88 shares during the last quarter. Laurion Capital Management LP purchased a new position in Lululemon Athletica in the third quarter worth $2,024,000. Finally, Benjamin Edwards Inc. boosted its position in Lululemon Athletica by 192.0% in the fourth quarter. Benjamin Edwards Inc. now owns 73 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 85.48% of the company’s stock.

About Lululemon Athletica (Get Rating)

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in 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, running, and training, as well as other sweaty pursuits.

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Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai