Opal Wealth Advisors LLC Takes $59,000 Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Opal Wealth Advisors LLC bought a new stake in Lululemon Athletica Inc. (NASDAQ:LULU) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 207 shares of the apparel retailer’s stock, valued at approximately $59,000.

A number of other hedge funds have also recently modified their holdings of LULU. Wealth Enhancement Advisory Services LLC grew its position in Lululemon Athletica by 22.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,953 shares of the apparel retailer’s stock worth $2,817,000 after purchasing an additional 1,855 shares during the last quarter. Azzad Asset Management Inc. ADV purchased a new position in Lululemon Athletica during the 1st quarter worth $1,898,000. New England Research & Management Inc. purchased a new position in Lululemon Athletica during the 1st quarter worth $301,000. Everhart Financial Group Inc. purchased a new position in Lululemon Athletica during the 1st quarter worth $228,000. Finally, Marshall Financial Group LLC grew its position in Lululemon Athletica by 7.5% during the 1st quarter. Marshall Financial Group LLC now owns 3,361 shares of the apparel retailer’s stock worth $951,000 after purchasing an additional 234 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Down 3.2%

Shares of LULU opened at $239.11 on Monday. The stock has a market cap of $28.66 billion, a P/E ratio of 17.26, a PEG ratio of 2.22 and a beta of 1.26. The company has a 50-day moving average of $284.75 and a two-hundred day moving average of $335.82. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.60. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.54 earnings per share. As a group, analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup lowered their price objective on shares of Lululemon Athletica from $325.00 to $270.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. Argus downgraded shares of Lululemon Athletica from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Raymond James reissued a “market perform” rating and set a $430.00 price objective on shares of Lululemon Athletica in a research report on Friday, March 28th. Piper Sandler lifted their target price on shares of Lululemon Athletica from $280.00 to $315.00 and gave the company a “neutral” rating in a report on Tuesday, June 3rd. Finally, UBS Group lowered their target price on shares of Lululemon Athletica from $330.00 to $290.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $340.26.

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.