Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $430.00

Lululemon Athletica (NASDAQ:LULU) had its price target lowered by Bank of America from $530.00 to $430.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the apparel retailer’s stock. Bank of America‘s target price suggests a potential upside of 44.49% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Evercore ISI decreased their price target on Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. UBS Group decreased their target price on Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating for the company in a research note on Wednesday. Barclays lowered Lululemon Athletica from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $546.00 to $395.00 in a report on Monday, April 29th. TD Cowen cut their price target on Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, HSBC cut their price target on Lululemon Athletica from $500.00 to $405.00 in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $465.48.

Lululemon Athletica Trading Down 0.7 %

LULU traded down $2.04 on Thursday, reaching $297.59. The stock had a trading volume of 2,138,225 shares, compared to its average volume of 1,849,205. Lululemon Athletica has a fifty-two week low of $295.74 and a fifty-two week high of $516.39. The firm has a 50-day moving average of $370.12 and a 200-day moving average of $432.30. The company has a market capitalization of $37.50 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 1.45 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating the consensus estimate of $5.00 by $0.29. The company had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.40 earnings per share. Sell-side analysts anticipate that Lululemon Athletica will post 14.15 EPS for the current fiscal year.

Insider Transactions at Lululemon Athletica

In related news, Director Martha A. M. Morfitt acquired 700 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average price of $389.29 per share, with a total value of $272,503.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $194,645. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Lululemon Athletica

Several institutional investors have recently added to or reduced their stakes in LULU. WealthPlan Investment Management LLC purchased a new stake in Lululemon Athletica during the 3rd quarter valued at $1,289,000. Nomura Asset Management Co. Ltd. lifted its position in Lululemon Athletica by 2.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 61,825 shares of the apparel retailer’s stock valued at $23,840,000 after purchasing an additional 1,539 shares in the last quarter. Corient Private Wealth LLC lifted its position in Lululemon Athletica by 9.8% during the third quarter. Corient Private Wealth LLC now owns 35,960 shares of the apparel retailer’s stock valued at $13,868,000 after purchasing an additional 3,216 shares in the last quarter. NBC Securities Inc. purchased a new position in Lululemon Athletica during the third quarter valued at $180,000. Finally, Achmea Investment Management B.V. lifted its position in Lululemon Athletica by 34.7% during the third quarter. Achmea Investment Management B.V. now owns 22,831 shares of the apparel retailer’s stock valued at $8,804,000 after purchasing an additional 5,887 shares in the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Company Profile

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.