Lululemon Athletica (NASDAQ:LULU) Shares Gap Up – Still a Buy?

Lululemon Athletica Inc. (NASDAQ:LULU)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $334.96, but opened at $342.50. Lululemon Athletica shares last traded at $337.09, with a volume of 906,224 shares trading hands.

Analysts Set New Price Targets

LULU has been the topic of several analyst reports. Evercore ISI increased their price target on Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. BMO Capital Markets raised their target price on shares of Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Truist Financial raised their price objective on shares of Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Sanford C. Bernstein raised Lululemon Athletica from a “market perform” rating to an “outperform” rating and upped their target price for the company from $360.00 to $460.00 in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average target price of $395.55.

Lululemon Athletica Trading Up 1.1 %

The firm has a market cap of $41.59 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.22 and a beta of 1.21. The company has a fifty day moving average price of $366.84 and a 200-day moving average price of $338.65.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.83 by $0.31. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the firm earned $5.29 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, research analysts forecast that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lululemon Athletica

Several institutional investors and hedge funds have recently modified their holdings of the business. Beacon Capital Management LLC increased its position in shares of Lululemon Athletica by 6.9% in the fourth quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer’s stock valued at $142,000 after buying an additional 24 shares in the last quarter. Edgestream Partners L.P. grew its stake in Lululemon Athletica by 0.7% in the 4th quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer’s stock valued at $1,353,000 after acquiring an additional 25 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in Lululemon Athletica by 2.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock valued at $389,000 after purchasing an additional 26 shares in the last quarter. Dnca Finance lifted its holdings in Lululemon Athletica by 15.1% during the fourth quarter. Dnca Finance now owns 198 shares of the apparel retailer’s stock valued at $76,000 after purchasing an additional 26 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in shares of Lululemon Athletica by 9.4% in the fourth quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer’s stock valued at $124,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

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.