Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $397.00

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by stock analysts at Wedbush from $492.00 to $397.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the apparel retailer’s stock. Wedbush’s price target points to a potential upside of 32.45% from the stock’s current price.

LULU has been the topic of several other research reports. Guggenheim cut their target price on Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. lowered their price objective on Lululemon Athletica from $531.00 to $509.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. BNP Paribas cut shares of Lululemon Athletica from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $430.00 to $415.00 in a research note on Friday, February 9th. Jefferies Financial Group cut their target price on Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating on the stock in a research report on Thursday, April 4th. Finally, Truist Financial decreased their target price on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating for the company in a report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $465.48.

Lululemon Athletica Trading Up 0.0 %

Shares of Lululemon Athletica stock opened at $299.74 on Wednesday. The firm has a market cap of $37.77 billion, a PE ratio of 24.55, a PEG ratio of 1.45 and a beta of 1.30. Lululemon Athletica has a 12 month low of $295.28 and a 12 month high of $516.39. The stock has a 50 day moving average of $366.72 and a 200 day moving average of $431.38.

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

Insider Activity at Lululemon Athletica

In other news, Director Martha A. M. Morfitt acquired 700 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average cost of $389.29 per share, with a total value of $272,503.00. Following the completion of the purchase, the director now owns 500 shares of the company’s stock, valued at approximately $194,645. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WealthPlan Investment Management LLC acquired a new position in shares of Lululemon Athletica during the third quarter worth $1,289,000. Principal Financial Group Inc. boosted its stake in shares of Lululemon Athletica by 1.3% during the third quarter. Principal Financial Group Inc. now owns 113,790 shares of the apparel retailer’s stock worth $43,879,000 after buying an additional 1,428 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Lululemon Athletica by 97.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 395 shares of the apparel retailer’s stock worth $159,000 after acquiring an additional 195 shares during the period. US Bancorp DE lifted its position in Lululemon Athletica by 10.8% in the third quarter. US Bancorp DE now owns 75,597 shares of the apparel retailer’s stock valued at $29,151,000 after purchasing an additional 7,375 shares during the period. Finally, ORG Partners LLC raised its stake in shares of Lululemon Athletica by 4,166.7% during the 3rd quarter. ORG Partners LLC now owns 512 shares of the apparel retailer’s stock worth $197,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

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.