Lululemon Athletica Target of Unusually High Options Trading (NASDAQ:LULU)

Lululemon Athletica Inc. (NASDAQ:LULU) was the recipient of some unusual options trading on Wednesday. Investors purchased 38,342 call options on the company. This is an increase of 64% compared to the typical volume of 23,384 call options.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LULU. KeyCorp lowered their price target on Lululemon Athletica from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, June 6th. William Blair reaffirmed an “outperform” rating on shares of Lululemon Athletica in a report on Thursday, April 3rd. Piper Sandler raised their price objective on Lululemon Athletica from $280.00 to $315.00 and gave the stock a “neutral” rating in a report on Tuesday, June 3rd. BTIG Research dropped their price objective on Lululemon Athletica from $420.00 to $405.00 and set a “buy” rating on the stock in a report on Friday, June 6th. Finally, The Goldman Sachs Group dropped their price objective on Lululemon Athletica from $363.00 to $302.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $340.26.

Lululemon Athletica Trading Down 2.1%

Shares of LULU opened at $247.03 on Friday. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $423.32. The stock’s 50 day moving average is $284.92 and its two-hundred day moving average is $336.15. The firm has a market capitalization of $29.80 billion, a PE ratio of 17.84, a P/E/G ratio of 2.22 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.60. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company earned $2.54 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors have recently added to or reduced their stakes in the business. Beacon Capital Management LLC increased its holdings in shares of Lululemon Athletica by 6.9% in 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 in the last quarter. Edgestream Partners L.P. grew its position in Lululemon Athletica by 0.7% during the fourth quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer’s stock worth $1,353,000 after buying an additional 25 shares during the period. Dnca Finance grew its position in Lululemon Athletica by 15.1% during the fourth quarter. Dnca Finance now owns 198 shares of the apparel retailer’s stock worth $76,000 after buying an additional 26 shares during the period. Capital Advisors Ltd. LLC increased its holdings in Lululemon Athletica by 9.4% in the fourth quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer’s stock valued at $124,000 after buying an additional 28 shares in the last quarter. Finally, LGT Fund Management Co Ltd. lifted its position in shares of Lululemon Athletica by 3.3% during the 4th quarter. LGT Fund Management Co Ltd. now owns 930 shares of the apparel retailer’s stock valued at $356,000 after acquiring an additional 30 shares during the period. Hedge funds and other 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.