Lululemon Athletica (NASDAQ:LULU) Shares Gap Up – Still a Buy?

Lululemon Athletica Inc. (NASDAQ:LULU) gapped up prior to trading on Tuesday . The stock had previously closed at $334.96, but opened at $342.50. Lululemon Athletica shares last traded at $337.09, with a volume of 906,224 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. TD Cowen boosted their target price on Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. BMO Capital Markets raised their price objective on Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a report on Friday, December 6th. TD Securities upped their target price on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Finally, Evercore ISI upped their price objective on shares of Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average price target of $395.55.

Lululemon Athletica Trading Up 1.1 %

The company has a market cap of $41.59 billion, a PE ratio of 24.66, a P/E/G ratio of 2.22 and a beta of 1.21. The firm has a 50 day moving average of $366.84 and a two-hundred day moving average of $338.65.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.83 by $0.31. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the company earned $5.29 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. On average, research analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently bought and sold shares of LULU. Beacon Capital Management LLC raised its position in shares of Lululemon Athletica by 6.9% during the 4th quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer’s stock valued at $142,000 after purchasing an additional 24 shares during the period. Edgestream Partners L.P. grew its holdings in shares of Lululemon Athletica by 0.7% in the fourth quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer’s stock valued at $1,353,000 after purchasing an additional 25 shares in the last quarter. SeaCrest Wealth Management LLC increased its position in Lululemon Athletica by 2.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock worth $389,000 after purchasing an additional 26 shares during the last quarter. Dnca Finance raised its stake in Lululemon Athletica by 15.1% during the fourth quarter. Dnca Finance now owns 198 shares of the apparel retailer’s stock valued at $76,000 after purchasing an additional 26 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in Lululemon Athletica by 9.4% during the fourth quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer’s stock valued at $124,000 after purchasing an additional 28 shares during the last quarter. Institutional investors 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.