Comerica Bank Grows Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Comerica Bank increased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU – Get Rating) by 17.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,602 shares of the apparel retailer’s stock after purchasing an additional 2,144 shares during the quarter. Comerica Bank’s holdings in Lululemon Athletica were worth $4,347,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LULU. Ronald Blue Trust Inc. acquired a new stake in Lululemon Athletica in the 2nd quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Lululemon Athletica by 440.9% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 119 shares of the apparel retailer’s stock valued at $32,000 after purchasing an additional 97 shares during the last quarter. Venture Visionary Partners LLC acquired a new stake in Lululemon Athletica in the 2nd quarter valued at approximately $34,000. Core Alternative Capital increased its holdings in Lululemon Athletica by 95.5% in the 2nd quarter. Core Alternative Capital now owns 129 shares of the apparel retailer’s stock valued at $35,000 after purchasing an additional 63 shares during the last quarter. Finally, Legacy CG LLC acquired a new stake in Lululemon Athletica in the 2nd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 82.04% of the company’s stock.

Lululemon Athletica Price Performance

Shares of LULU opened at $315.47 on Friday. The firm has a fifty day moving average price of $337.74 and a 200 day moving average price of $318.45. Lululemon Athletica Inc. has a 1-year low of $251.51 and a 1-year high of $410.70. The stock has a market cap of $40.23 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 1.59 and a beta of 1.35.

Lululemon Athletica (NASDAQ:LULU – Get Rating) last announced its earnings results on Thursday, December 8th. The apparel retailer reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.04. Lululemon Athletica had a net margin of 15.66% and a return on equity of 41.13%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The business’s revenue was up 28.0% compared to the same quarter last year. As a group, equities analysts expect that Lululemon Athletica Inc. will post 9.91 EPS for the current fiscal year.

Analyst Ratings Changes

LULU has been the subject of several research reports. Credit Suisse Group lifted their target price on shares of Lululemon Athletica from $390.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, December 5th. The Goldman Sachs Group lifted their target price on shares of Lululemon Athletica from $383.00 to $431.00 and gave the company a “buy” rating in a report on Friday, December 9th. Robert W. Baird boosted their price target on shares of Lululemon Athletica from $430.00 to $435.00 and gave the stock an “outperform” rating in a research note on Friday, December 9th. Morgan Stanley boosted their price target on shares of Lululemon Athletica from $343.00 to $387.00 and gave the stock an “overweight” rating in a research note on Friday, December 9th. Finally, StockNews.com started coverage on shares of Lululemon Athletica in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average target price of $404.46.

Lululemon Athletica Profile

(Get Rating)

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in 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.