lululemon athletica (NASDAQ:LULU) Releases Earnings Results, Beats Estimates By $1.13 EPS

lululemon athletica (NASDAQ:LULU) announced its quarterly earnings data on Thursday. The apparel retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate of $1.79 by $1.13, FiscalAI reports. lululemon athletica had a net margin of 13.03% and a return on equity of 31.26%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.46 billion.

lululemon athletica Trading Up 1.4%

NASDAQ:LULU traded up $1.70 during mid-day trading on Thursday, hitting $121.77. The company had a trading volume of 8,049,656 shares, compared to its average volume of 3,146,350. The business has a fifty day simple moving average of $118.56 and a 200-day simple moving average of $137.00. lululemon athletica has a 1 year low of $104.44 and a 1 year high of $225.98. The firm has a market capitalization of $14.45 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 2.46 and a beta of 0.87.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings lowered shares of lululemon athletica from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 24th. Freedom Capital raised shares of lululemon athletica from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Piper Sandler dropped their price objective on lululemon athletica from $130.00 to $110.00 and set a “neutral” rating for the company in a report on Friday, June 5th. JPMorgan Chase & Co. increased their target price on lululemon athletica from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on lululemon athletica from $171.00 to $127.00 and set a “hold” rating for the company in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twenty-five have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, lululemon athletica presently has an average rating of “Reduce” and an average price target of $148.38.

Insider Buying and Selling at lululemon athletica

In related news, Director Charles V. Bergh bought 4,275 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $117.05 per share, with a total value of $500,388.75. Following the completion of the transaction, the director directly owned 10,365 shares of the company’s stock, valued at approximately $1,213,223.25. This represents a 70.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On lululemon athletica

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LLC raised its position in shares of lululemon athletica by 265.9% during the 4th quarter. Corient Private Wealth LLC now owns 42,985 shares of the apparel retailer’s stock valued at $8,933,000 after acquiring an additional 31,236 shares in the last quarter. Blue Sparrow LLC DE acquired a new stake in shares of lululemon athletica during the fourth quarter worth $11,430,000. Mercer Global Advisors Inc. ADV lifted its position in shares of lululemon athletica by 18.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,142 shares of the apparel retailer’s stock worth $4,322,000 after buying an additional 3,313 shares during the last quarter. Vident Advisory LLC lifted its position in shares of lululemon athletica by 293.0% in the 4th quarter. Vident Advisory LLC now owns 13,181 shares of the apparel retailer’s stock worth $2,739,000 after buying an additional 9,827 shares during the last quarter. Finally, State of Tennessee Department of Treasury grew its position in shares of lululemon athletica by 26.4% during the 4th quarter. State of Tennessee Department of Treasury now owns 41,743 shares of the apparel retailer’s stock valued at $8,675,000 after buying an additional 8,711 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

About lululemon athletica

lululemon athletica inc. is a design-focused athletic apparel company known for performance-oriented apparel, footwear and accessories. The company’s product portfolio centers on technical apparel for yoga, running, training and everyday active lifestyle use and includes tops, bottoms, outerwear, underwear, bags and a growing footwear assortment. lululemon emphasizes fabric science and product innovation, marketing garments that blend performance features with lifestyle styling.

Products are developed in-house and produced through a network of third-party manufacturers.