Lululemon Athletica (NASDAQ:LULU) PT Lowered to $505.00 at Robert W. Baird

Lululemon Athletica (NASDAQ:LULU) had its price target lowered by Robert W. Baird from $555.00 to $505.00 in a research note issued to investors on Friday morning, MarketBeat.com reports. The firm currently has an outperform rating on the apparel retailer’s stock.

Other research analysts have also issued reports about the company. Oppenheimer restated an outperform rating and issued a $445.00 price target (down from $540.00) on shares of Lululemon Athletica in a research report on Friday, April 5th. BMO Capital Markets increased their price target on shares of Lululemon Athletica from $408.00 to $420.00 and gave the company a market perform rating in a research report on Friday, March 22nd. Raymond James boosted their price objective on shares of Lululemon Athletica from $495.00 to $520.00 and gave the company an outperform rating in a report on Wednesday, January 10th. Truist Financial cut their target price on shares of Lululemon Athletica from $561.00 to $498.00 and set a buy rating on the stock in a report on Monday, March 25th. Finally, Morgan Stanley decreased their price target on shares of Lululemon Athletica from $539.00 to $490.00 and set an overweight rating for the company in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $483.61.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $361.79 on Friday. The company has a market cap of $45.59 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 1.25 and a beta of 1.30. The stock’s fifty day moving average price is $418.00 and its two-hundred day moving average price is $439.39. Lululemon Athletica has a 52-week low of $326.93 and a 52-week high of $516.39.

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

Insider Buying and Selling at Lululemon Athletica

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

Institutional Investors Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently bought and sold shares of LULU. Vanguard Group Inc. raised its holdings in shares of Lululemon Athletica by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after acquiring an additional 2,369,119 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Lululemon Athletica by 51,219.6% in the fourth quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock worth $351,868,000 after purchasing an additional 686,855 shares during the last quarter. Norges Bank purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at approximately $236,378,000. Morgan Stanley grew its holdings in Lululemon Athletica by 29.2% during the third quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after buying an additional 437,069 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in Lululemon Athletica by 20.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock valued at $719,198,000 after buying an additional 310,347 shares during the last quarter. 85.20% of the stock is owned by 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.