Bank of America Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $430.00

Lululemon Athletica (NASDAQ:LULU) had its target price lowered by Bank of America from $530.00 to $430.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the apparel retailer’s stock.

Several other equities analysts have also issued reports on LULU. Morgan Stanley cut their price target on shares of Lululemon Athletica from $539.00 to $490.00 and set an overweight rating on the stock in a report on Friday, March 22nd. KeyCorp cut their price target on shares of Lululemon Athletica from $570.00 to $515.00 and set an overweight rating on the stock in a report on Friday, March 22nd. BNP Paribas lowered shares of Lululemon Athletica from a neutral rating to an underperform rating and cut their price target for the stock from $430.00 to $415.00 in a report on Friday, February 9th. Wedbush cut their price target on shares of Lululemon Athletica from $492.00 to $397.00 and set an outperform rating on the stock in a report on Wednesday, May 22nd. Finally, Truist Financial cut their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $465.13.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $303.01 on Thursday. Lululemon Athletica has a one year low of $295.28 and a one year high of $516.39. The stock’s fifty day moving average is $363.48 and its 200 day moving average is $430.91. The stock has a market cap of $38.18 billion, a P/E ratio of 24.82, a P/E/G ratio of 1.36 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. The business had revenue of $3.21 billion for 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 period last year, the firm earned $4.40 earnings per share. Analysts predict that Lululemon Athletica will post 14.11 EPS for the current year.

Insider Buying and Selling

In related news, Director Martha A. M. Morfitt purchased 700 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, March 26th. The stock was purchased at an average price of $389.29 per share, for a total transaction 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 SEC, which is available at this link. Insiders own 0.54% of the company’s stock.

Institutional Trading of Lululemon Athletica

Several large investors have recently bought and sold shares of the business. Daymark Wealth Partners LLC grew its stake in Lululemon Athletica by 3.8% during 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 in the last quarter. Simon Quick Advisors LLC grew its stake in Lululemon Athletica by 1.9% during the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock valued at $612,000 after acquiring an additional 22 shares in the last quarter. Pinnacle Financial Partners Inc grew its stake in Lululemon Athletica by 1.9% during the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after acquiring an additional 23 shares in the last quarter. Baker Avenue Asset Management LP grew its stake 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 acquiring an additional 25 shares in the last quarter. Finally, Moody National Bank Trust Division grew its stake in Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after acquiring an additional 29 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.