Lululemon Athletica (NASDAQ:LULU – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $9.75-$9.90 for the period, compared to the consensus earnings per share estimate of $9.44. The company issued revenue guidance of $7.87 billion-$7.94 billion, compared to the consensus revenue estimate of $7.69 billion. Lululemon Athletica also updated its Q3 2022 guidance to $1.90-$1.95 EPS.
Lululemon Athletica Trading Down 4.3 %
NASDAQ LULU opened at $293.20 on Friday. Lululemon Athletica has a 12 month low of $251.51 and a 12 month high of $485.83. The stock has a market cap of $37.39 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 1.49 and a beta of 1.29. The company's 50 day moving average is $317.10 and its two-hundred day moving average is $315.93.
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Lululemon Athletica (NASDAQ:LULU – Get Rating) last released its earnings results on Thursday, September 1st. The apparel retailer reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.34. Lululemon Athletica had a net margin of 15.60% and a return on equity of 40.95%. The company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the business earned $1.65 EPS. The firm's revenue was up 28.8% compared to the same quarter last year. Sell-side analysts forecast that Lululemon Athletica will post 9.87 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on LULU shares. Credit Suisse Group decreased their target price on shares of Lululemon Athletica from $450.00 to $410.00 and set an outperform rating on the stock in a research note on Friday, June 3rd. KeyCorp lifted their price objective on shares of Lululemon Athletica from $350.00 to $375.00 and gave the company an overweight rating in a research report on Friday, September 2nd. BTIG Research reduced their price objective on shares of Lululemon Athletica from $420.00 to $402.00 and set a buy rating on the stock in a research report on Thursday, July 21st. BMO Capital Markets reduced their price objective on shares of Lululemon Athletica from $344.00 to $304.00 in a research report on Friday, June 3rd. Finally, Cowen lifted their price objective on shares of Lululemon Athletica from $505.00 to $512.00 and gave the company an outperform rating in a research report on Tuesday, August 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of Moderate Buy and a consensus price target of $403.69.
Insiders Place Their Bets
In other Lululemon Athletica news, Director Kathryn Henry sold 189 shares of Lululemon Athletica stock in a transaction on Monday, September 12th. The shares were sold at an average price of $351.80, for a total transaction of $66,490.20. Following the completion of the transaction, the director now directly owns 4,102 shares of the company's stock, valued at $1,443,083.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by insiders.
Institutional Trading of Lululemon Athletica
Several institutional investors and hedge funds have recently made changes to their positions in LULU. Global Wealth Management Investment Advisory Inc. lifted its position in shares of Lululemon Athletica by 60.2% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 197 shares of the apparel retailer's stock worth $72,000 after purchasing an additional 74 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Lululemon Athletica by 161.5% during the first quarter. Brown Brothers Harriman & Co. now owns 442 shares of the apparel retailer's stock worth $161,000 after purchasing an additional 273 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Lululemon Athletica by 33.7% during the first quarter. Forum Financial Management LP now owns 765 shares of the apparel retailer's stock worth $279,000 after purchasing an additional 193 shares during the last quarter. Centaurus Financial Inc. lifted its position in shares of Lululemon Athletica by 103.5% during the first quarter. Centaurus Financial Inc. now owns 883 shares of the apparel retailer's stock worth $322,000 after purchasing an additional 449 shares during the last quarter. Finally, Fund Management at Engine No. 1 LLC bought a new stake in shares of Lululemon Athletica during the first quarter worth $363,000. 81.11% of the stock is currently owned by institutional investors.
Lululemon Athletica Company Profile
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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.
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