Lululemon Athletica (NASDAQ:LULU) Price Target Lowered to $384.00 at Sanford C. Bernstein

Lululemon Athletica (NASDAQ:LULU) had its price objective lowered by equities researchers at Sanford C. Bernstein from $430.00 to $384.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the apparel retailer’s stock. Sanford C. Bernstein’s price target indicates a potential upside of 5.22% from the company’s current price.

A number of other brokerages also recently weighed in on LULU. BNP Paribas downgraded Lululemon Athletica from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $430.00 to $415.00 in a research note on Friday, February 9th. Oppenheimer reissued an “outperform” rating and issued a $445.00 price objective (down previously from $540.00) on shares of Lululemon Athletica in a research report on Friday, April 5th. Piper Sandler lowered their target price on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Morgan Stanley reduced their price target on shares of Lululemon Athletica from $539.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Finally, Robert W. Baird lowered their price objective on shares of Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $481.96.

Lululemon Athletica Stock Up 1.4 %

NASDAQ LULU traded up $4.95 on Friday, reaching $364.95. The company had a trading volume of 719,943 shares, compared to its average volume of 1,766,471. The company’s fifty day moving average is $412.27 and its 200 day moving average is $438.30. Lululemon Athletica has a 52-week low of $326.93 and a 52-week high of $516.39. The stock has a market capitalization of $45.99 billion, a P/E ratio of 29.93, a P/E/G ratio of 1.29 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the business posted $4.40 EPS. The business’s revenue was up 15.6% compared to the same quarter last year. On average, research analysts expect that Lululemon Athletica will post 14.15 EPS for the current year.

Insider Buying and Selling at Lululemon Athletica

In other news, Director Martha A. M. Morfitt acquired 700 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was purchased at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at $194,645. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

A number of large investors have recently added to or reduced their stakes in LULU. Daymark Wealth Partners LLC lifted its stake in shares of Lululemon Athletica by 3.8% in the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock valued at $293,000 after acquiring an additional 21 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in shares of Lululemon Athletica by 1.9% in the fourth quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after purchasing an additional 22 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in shares of Lululemon Athletica by 1.9% in the fourth quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock worth $646,000 after buying an additional 23 shares during the period. Baker Avenue Asset Management LP raised its holdings in Lululemon Athletica by 11.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock valued at $97,000 after buying an additional 25 shares during the last quarter. Finally, Sage Mountain Advisors LLC boosted its position in Lululemon Athletica by 3.3% during the 3rd quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer’s stock valued at $312,000 after buying an additional 26 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.