Lululemon Athletica’s (LULU) “Market Perform” Rating Reaffirmed at CICC Research

CICC Research reissued their market perform rating on shares of Lululemon Athletica (NASDAQ:LULU) in a report published on Monday,Benzinga reports. The brokerage currently has a $280.49 price objective on the apparel retailer’s stock.

Other equities analysts have also recently issued research reports about the stock. Barclays reduced their price target on shares of Lululemon Athletica from $276.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Monday. Raymond James reaffirmed a “market perform” rating and set a $430.00 price objective on shares of Lululemon Athletica in a research report on Friday, March 28th. Jefferies Financial Group decreased their target price on Lululemon Athletica from $220.00 to $200.00 and set an “underperform” rating for the company in a research report on Friday. Piper Sandler raised their target price on Lululemon Athletica from $280.00 to $315.00 and gave the company a “neutral” rating in a research note on Tuesday, June 3rd. Finally, BTIG Research reduced their price target on Lululemon Athletica from $420.00 to $405.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.26.

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $259.04 on Monday. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32. The firm has a market cap of $31.25 billion, a P/E ratio of 18.70, a P/E/G ratio of 2.22 and a beta of 1.26. The business’s 50 day moving average price is $285.46 and its 200-day moving average price is $337.84.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting the consensus estimate of $2.60. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 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 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.54 earnings per share. As a group, equities analysts predict that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Investors Weigh In On Lululemon Athletica

A number of hedge funds have recently added to or reduced their stakes in LULU. Investment Partners Asset Management Inc. purchased a new position in shares of Lululemon Athletica in the 4th quarter worth $275,000. Nutshell Asset Management Ltd bought a new position in Lululemon Athletica in the fourth quarter valued at about $956,000. Montag A & Associates Inc. boosted its position in Lululemon Athletica by 495.1% in the fourth quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock worth $1,627,000 after purchasing an additional 3,540 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new position in Lululemon Athletica in the fourth quarter worth about $17,775,000. Finally, Aigen Investment Management LP bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at about $2,229,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

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.