Bank of America Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $400.00

Lululemon Athletica (NASDAQ:LULU) had its target price trimmed by Bank of America from $480.00 to $400.00 in a research note published on Friday, MarketBeat.com reports. The brokerage currently has a buy rating on the apparel retailer’s stock.

A number of other research firms have also recently weighed in on LULU. Oppenheimer increased their price target on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Morgan Stanley lowered their target price on shares of Lululemon Athletica from $420.00 to $411.00 and set an “overweight” rating for the company in a research note on Wednesday, March 19th. Piper Sandler boosted their price target on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Guggenheim raised their price objective on shares of Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, TD Securities upped their target price on shares of Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus target price of $380.72.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $293.06 on Friday. The company’s 50-day moving average is $364.63 and its two-hundred day moving average is $340.22. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $423.32. The firm has a market capitalization of $35.69 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating the consensus estimate of $5.85 by $0.29. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.29 EPS. As a group, equities analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lululemon Athletica

Several large investors have recently bought and sold shares of LULU. TCTC Holdings LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth about $26,000. Anderson Financial Strategies LLC acquired a new position in Lululemon Athletica during the fourth quarter worth approximately $30,000. Kestra Investment Management LLC purchased a new stake in Lululemon Athletica in the fourth quarter valued at approximately $32,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $32,000. Finally, Asset Planning Inc acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds 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.