Evercore ISI Reaffirms Outperform Rating for Lululemon Athletica (NASDAQ:LULU)

Evercore ISI reaffirmed their outperform rating on shares of Lululemon Athletica (NASDAQ:LULU) in a report released on Monday, Benzinga reports. Evercore ISI currently has a $300.00 price objective on the apparel retailer’s stock.

Several other brokerages have also recently commented on LULU. Barclays reduced their target price on shares of Lululemon Athletica from $338.00 to $263.00 and set an equal weight rating for the company in a report on Wednesday, August 7th. Piper Sandler restated a neutral rating and issued a $250.00 price objective on shares of Lululemon Athletica in a report on Friday, August 23rd. Wells Fargo & Company dropped their target price on Lululemon Athletica from $350.00 to $285.00 and set an equal weight rating on the stock in a report on Friday, August 23rd. Oppenheimer restated an outperform rating and issued a $445.00 price target on shares of Lululemon Athletica in a research note on Thursday, June 6th. Finally, Morgan Stanley dropped their price objective on Lululemon Athletica from $404.00 to $329.00 and set an overweight rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica presently has a consensus rating of Moderate Buy and an average target price of $375.00.

Lululemon Athletica Trading Down 4.6 %

LULU stock opened at $258.83 on Monday. The stock has a 50-day moving average price of $274.73 and a two-hundred day moving average price of $342.43. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39. The stock has a market cap of $32.35 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the firm earned $2.28 earnings per share. Lululemon Athletica’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts forecast that Lululemon Athletica will post 14.22 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LULU. Tidemark LLC bought a new position in Lululemon Athletica during the 4th quarter worth $26,000. Scarborough Advisors LLC bought a new position in shares of Lululemon Athletica in the fourth quarter worth $26,000. Benjamin Edwards Inc. increased its position in shares of Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 44 shares during the period. Riverview Trust Co acquired a new position in Lululemon Athletica in the first quarter valued at about $29,000. Finally, Larson Financial Group LLC grew its stake in Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.