Lululemon Athletica: Analysts Reiterate ‘Outperform’ Rating With $550 Target Price

In a recent report by Telsey Advisory Group, they have reaffirmed their outperform rating on shares of Lululemon Athletica. The brokerage has set a target price of $550.00 for the apparel retailer’s stock.

Other analysts have also chimed in on the stock. Oppenheimer raised their price target to $540.00 from $450.00 and gave the stock an outperform rating. Robert W. Baird, Evercore, and Roth Capital also increased their price targets, with Needham & Company LLC reissuing a buy rating.

Market statistics indicate that the stock currently has an average rating of “Moderate Buy” with a consensus price target of $503.07.

On Thursday, Lululemon’s stock traded down $5.37 to $459.57. The company saw 1,259,697 shares exchanged, slightly above its average volume. Lululemon’s stock has ranged from a low of $289.81 to a high of $516.39 over the past 12 months. The stock’s 50-day moving average stands at $465.44, with the 200-day moving average at $440.99. Lululemon has a market capitalization of $57.99 billion, with a price-to-earnings ratio of 58.47 and a beta of 1.33.

Notably, Lululemon Athletica announced a share buyback plan on Dec. 7, 2023, allowing the company to repurchase $1 billion in outstanding shares, indicating confidence in its stock’s value.

In terms of institutional investors, several hedge funds have been active in trading Lululemon stock. Vanguard Group Inc., State Street Corp, Morgan Stanley, Schroder Investment Management Group, and Geode Capital Management LLC are among those who have increased their holdings.

Lululemon Athletica primarily designs, distributes, and retails athletic apparel and accessories under the lululemon brand for both women and men. The company operates through company-operated stores and direct-to-consumer segments, offering a range of products tailored for activities such as yoga, running, and training.

The market seems to be showing continued confidence in Lululemon’s performance and growth prospects, as indicated by analysts’ ratings and institutional investors’ activities.