Oppenheimer Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $380.00

Lululemon Athletica (NASDAQ:LULU) had its price objective dropped by Oppenheimer from $445.00 to $380.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the apparel retailer’s stock. Oppenheimer’s price objective would suggest a potential upside of 19.18% from the stock’s previous close.

Several other equities analysts also recently weighed in on LULU. Guggenheim decreased their target price on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Telsey Advisory Group decreased their price objective on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. KeyCorp dropped their target price on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Barclays reduced their target price on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Finally, Wedbush lowered their price target on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $356.03.

Lululemon Athletica Stock Down 2.4 %

LULU stock opened at $318.84 on Wednesday. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $516.39. The company’s 50-day simple moving average is $294.07 and its 200-day simple moving average is $287.62. The firm has a market cap of $39.15 billion, a P/E ratio of 24.64, a PEG ratio of 2.38 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 earnings per share. On average, analysts anticipate that Lululemon Athletica will post 14.02 earnings per share for the current fiscal year.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Calvin Mcdonald purchased 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 40 shares in the last quarter. Sunbelt Securities Inc. grew its position in shares of Lululemon Athletica by 4.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 950 shares of the apparel retailer’s stock valued at $258,000 after buying an additional 42 shares during the last quarter. Rockline Wealth Management LLC raised its stake in Lululemon Athletica by 1.3% during the 2nd quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer’s stock worth $990,000 after acquiring an additional 43 shares in the last quarter. Larson Financial Group LLC raised its stake in Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after acquiring an additional 43 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in Lululemon Athletica by 66.7% in the second quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after acquiring an additional 46 shares during the last quarter. 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.