Lululemon Athletica (LULU) Hits New 52-Week High and Low on Analyst Upgrade

Shares of Lululemon Athletica (NASDAQ:LULU) hit a new 52-week high and low on Tuesday after JPMorgan Chase raised their price target on the stock to $107.00. JPMorgan Chase currently has an overweight rating on the stock. Lululemon Athletica traded as low as $94.85 and last traded at $94.67, with a volume of 903539 shares changing hands. The stock had previously closed at $93.76.

LULU has been the subject of a number of other reports. SunTrust Banks raised their target price on Lululemon Athletica to $90.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. MKM Partners lifted their price objective on Lululemon Athletica from $89.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research lowered Lululemon Athletica from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Needham & Company LLC boosted their target price on Lululemon Athletica from $79.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Finally, Guggenheim restated a “buy” rating and set a $90.00 target price on shares of Lululemon Athletica in a research report on Wednesday, March 28th. Sixteen research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lululemon Athletica has an average rating of “Buy” and an average price target of $82.14.

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In related news, major shareholder Dennis J. Wilson sold 722,134 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $77.47, for a total transaction of $55,943,720.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Millennium Management LLC grew its holdings in Lululemon Athletica by 340.6% in the 4th quarter. Millennium Management LLC now owns 855,796 shares of the apparel retailer’s stock valued at $67,257,000 after buying an additional 661,547 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Lululemon Athletica by 311.5% during the 4th quarter. Alliancebernstein L.P. now owns 691,777 shares of the apparel retailer’s stock valued at $54,367,000 after acquiring an additional 523,653 shares during the period. Element Capital Management LLC bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at $29,521,000. Elephas Investment Management Ltd bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at $29,062,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Lululemon Athletica by 481.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 395,741 shares of the apparel retailer’s stock worth $31,101,000 after buying an additional 327,624 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

The stock has a market capitalization of $12,422.58, a price-to-earnings ratio of 36.49, a price-to-earnings-growth ratio of 2.28 and a beta of 0.19.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Tuesday, March 27th. The apparel retailer reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.06. Lululemon Athletica had a return on equity of 24.59% and a net margin of 9.76%. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $912.41 million. During the same period in the prior year, the company earned $1.00 EPS. Lululemon Athletica’s revenue for the quarter was up 17.6% on a year-over-year basis. sell-side analysts predict that Lululemon Athletica will post 3.08 earnings per share for the current fiscal year.

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About Lululemon Athletica

lululemon athletica inc., an athletic apparel company, together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through 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 and running; other sweaty pursuits; and athletic wear for female youth.

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