Lululemon Athletica (NASDAQ:LULU) Hits New 12-Month High on Strong Earnings

Lululemon Athletica inc. (NASDAQ:LULU) shares hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $199.33 and last traded at $193.25, with a volume of 371503 shares changing hands. The stock had previously closed at $180.70.

The apparel retailer reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.07. The company had revenue of $883.35 million for the quarter, compared to analysts’ expectations of $845.03 million. Lululemon Athletica had a net margin of 14.77% and a return on equity of 38.77%. Lululemon Athletica’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS.

A number of brokerages recently commented on LULU. Wells Fargo & Co set a $210.00 price target on shares of Lululemon Athletica and gave the company an “outperform” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. upped their price target on shares of Lululemon Athletica from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday. Canaccord Genuity upped their price target on shares of Lululemon Athletica from $191.00 to $194.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. BidaskClub upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating in a research note on Saturday, August 24th. Finally, Morgan Stanley upped their price target on shares of Lululemon Athletica from $163.00 to $169.00 and gave the company an “equal weight” rating in a research note on Friday. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $201.04.

In other news, Director Dennis J. Wilson sold 110,629 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $182.87, for a total value of $20,230,725.23. Following the transaction, the director now owns 3,852 shares of the company’s stock, valued at approximately $704,415.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David M. Mussafer sold 4,484 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $186.10, for a total transaction of $834,472.40. Following the completion of the transaction, the director now directly owns 18,947 shares in the company, valued at approximately $3,526,036.70. The disclosure for this sale can be found here. Insiders sold a total of 279,174 shares of company stock worth $51,070,314 in the last three months. Insiders own 0.34% of the company’s stock.

Several large investors have recently modified their holdings of the company. Piedmont Investment Advisors Inc. grew its holdings in shares of Lululemon Athletica by 0.8% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,001 shares of the apparel retailer’s stock valued at $1,147,000 after purchasing an additional 59 shares during the last quarter. Next Capital Management LLC grew its holdings in Lululemon Athletica by 15.6% in the 2nd quarter. Next Capital Management LLC now owns 437 shares of the apparel retailer’s stock worth $79,000 after acquiring an additional 59 shares during the last quarter. Resources Investment Advisors Inc. grew its holdings in Lululemon Athletica by 15.6% in the 1st quarter. Resources Investment Advisors Inc. now owns 445 shares of the apparel retailer’s stock worth $73,000 after acquiring an additional 60 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in Lululemon Athletica by 35.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 259 shares of the apparel retailer’s stock worth $45,000 after acquiring an additional 68 shares during the last quarter. Finally, Advantage Investment Management LLC lifted its position in shares of Lululemon Athletica by 9.4% in the 2nd quarter. Advantage Investment Management LLC now owns 851 shares of the apparel retailer’s stock worth $153,000 after purchasing an additional 73 shares during the period. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market capitalization of $23.54 billion, a PE ratio of 52.62, a PEG ratio of 2.12 and a beta of 0.65. The business’s 50-day moving average is $183.52 and its 200-day moving average is $171.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.45 and a current ratio of 2.33.

Lululemon Athletica Company Profile (NASDAQ:LULU)

lululemon athletica inc., 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, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.

Read More: Cost of Debt

Receive News & Ratings for Lululemon Athletica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica and related companies with MarketBeat.com's FREE daily email newsletter.