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

Lululemon Athletica (NASDAQ:LULU) had its price target lowered by Wedbush from $492.00 to $397.00 in a report published on Wednesday, MarketBeat reports. The firm currently has an outperform rating on the apparel retailer’s stock.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a buy rating and set a $539.00 price target (down previously from $596.00) on shares of Lululemon Athletica in a research note on Friday, March 22nd. Morgan Stanley lowered their price target on Lululemon Athletica from $539.00 to $490.00 and set an overweight rating on the stock in a report on Friday, March 22nd. Piper Sandler reduced their price objective on Lululemon Athletica from $525.00 to $470.00 and set an overweight rating for the company in a research note on Tuesday, April 9th. Guggenheim lowered 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. Finally, TD Cowen cut their price target on Lululemon Athletica from $553.00 to $515.00 and set an outperform rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica has a consensus rating of Moderate Buy and an average target price of $468.59.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $299.63 on Wednesday. The firm’s fifty day moving average price is $370.12 and its 200 day moving average price is $432.30. Lululemon Athletica has a 12 month low of $295.74 and a 12 month high of $516.39. The company has a market capitalization of $37.76 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. The firm had revenue of $3.21 billion during 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 revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $4.40 EPS. As a group, sell-side analysts forecast that Lululemon Athletica will post 14.15 earnings per share for the current year.

Insider Activity

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of Lululemon Athletica stock in a transaction dated Tuesday, March 26th. The stock was bought at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the acquisition, the director now directly owns 500 shares of the company’s stock, valued at $194,645. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Lululemon Athletica

A number of hedge funds have recently modified their holdings of the business. WealthPlan Investment Management LLC purchased a new stake in shares of Lululemon Athletica during the third quarter worth $1,289,000. Principal Financial Group Inc. raised its holdings 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 acquiring an additional 1,428 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Lululemon Athletica by 97.5% during the third 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 in the last quarter. US Bancorp DE raised its holdings in shares of Lululemon Athletica by 10.8% during the third quarter. US Bancorp DE now owns 75,597 shares of the apparel retailer’s stock worth $29,151,000 after acquiring an additional 7,375 shares in the last quarter. Finally, ORG Partners LLC raised its holdings in shares of Lululemon Athletica by 4,166.7% during the third quarter. ORG Partners LLC now owns 512 shares of the apparel retailer’s stock worth $197,000 after acquiring an additional 500 shares in 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.