BTIG Research Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $420.00

Lululemon Athletica (NASDAQ:LULU) had its target price lowered by BTIG Research from $470.00 to $420.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a buy rating on the apparel retailer’s stock.

Several other equities research analysts have also commented on the stock. William Blair restated an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Bank of America decreased their price objective on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating on the stock in a report on Friday. Robert W. Baird boosted their price target on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Evercore ISI lifted their price objective on Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Telsey Advisory Group lowered their target price on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Trading Down 14.2 %

Shares of LULU stock opened at $293.06 on Friday. The company has a market capitalization of $35.69 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $423.32. The business’s 50 day moving average is $364.63 and its two-hundred day moving average is $340.22.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. The business 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 was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $5.29 earnings per share. As a group, equities analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

Several hedge funds have recently modified their holdings of the stock. TCTC Holdings LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter valued at $26,000. Anderson Financial Strategies LLC acquired a new position in Lululemon Athletica in the fourth quarter valued at $30,000. Kestra Investment Management LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at about $32,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Lululemon Athletica during the fourth quarter worth about $32,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Lululemon Athletica by 309.5% in the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 65 shares during the period. 85.20% of the stock is owned by institutional investors and hedge funds.

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.