Lululemon Athletica (NASDAQ:LULU) Posts Earnings Results, Beats Estimates By $0.29 EPS

Lululemon Athletica (NASDAQ:LULU) released its quarterly earnings results on Thursday. The apparel retailer reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.85 by $0.29, Briefing.com reports. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 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 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.29 earnings per share.

Lululemon Athletica Price Performance

NASDAQ LULU traded up $3.74 during trading hours on Thursday, reaching $341.53. 4,300,229 shares of the stock traded hands, compared to its average volume of 2,074,338. The stock has a 50 day simple moving average of $366.84 and a two-hundred day simple moving average of $338.65. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32. The company has a market cap of $41.59 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

Hedge Funds Weigh In On Lululemon Athletica

A hedge fund recently bought a new stake in Lululemon Athletica stock. Brighton Jones LLC acquired a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,121 shares of the apparel retailer’s stock, valued at approximately $429,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LULU. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $445.00 target price on shares of Lululemon Athletica in a report on Thursday, March 20th. TD Cowen upped their price objective on Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Morgan Stanley lowered their target price on Lululemon Athletica from $420.00 to $411.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 19th. Jefferies Financial Group restated an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research report on Monday, December 2nd. Finally, Oppenheimer lifted their price objective on shares of Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average target price of $395.55.

Lululemon Athletica Company Profile

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.