KeyCorp Forecasts Strong Price Appreciation for Lululemon Athletica (NASDAQ:LULU) Stock

Lululemon Athletica (NASDAQ:LULU) had its price target increased by research analysts at KeyCorp from $400.00 to $420.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the apparel retailer’s stock. KeyCorp’s target price would suggest a potential upside of 10.08% from the company’s previous close.

Several other brokerages have also issued reports on LULU. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research report on Monday, December 2nd. 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 report on Tuesday, January 7th. Truist Financial upped their target price on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Barclays upped their target price on Lululemon Athletica from $378.00 to $411.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, Citigroup boosted their price target on Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average price target of $391.00.

Lululemon Athletica Trading Down 0.3 %

LULU opened at $381.53 on Thursday. The firm has a market cap of $46.46 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 2.43 and a beta of 1.18. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $491.30. The stock has a fifty day moving average price of $365.84 and a 200-day moving average price of $306.17.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.53 EPS. On average, equities research analysts forecast that Lululemon Athletica will post 14.34 EPS for the current year.

Insider Transactions at Lululemon Athletica

In related news, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the sale, the insider now owns 6,198 shares in the company, valued at $2,399,307.78. This represents a 24.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently modified their holdings of LULU. EverSource Wealth Advisors LLC grew its holdings in Lululemon Athletica by 11.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 598 shares of the apparel retailer’s stock valued at $179,000 after buying an additional 60 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Lululemon Athletica by 70.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 4,379 shares of the apparel retailer’s stock valued at $1,308,000 after buying an additional 1,816 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Lululemon Athletica by 59.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,005 shares of the apparel retailer’s stock valued at $6,573,000 after buying an additional 8,229 shares during the last quarter. Fred Alger Management LLC grew its holdings in Lululemon Athletica by 2,895.4% during the 2nd quarter. Fred Alger Management LLC now owns 27,078 shares of the apparel retailer’s stock valued at $8,088,000 after buying an additional 26,174 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Lululemon Athletica by 92.7% during the 2nd quarter. AQR Capital Management LLC now owns 106,730 shares of the apparel retailer’s stock valued at $31,823,000 after buying an additional 51,355 shares during the last quarter. Institutional investors and hedge funds 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.