BTIG Research Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $405.00

Lululemon Athletica (NASDAQ:LULU) had its price objective cut by stock analysts at BTIG Research from $420.00 to $405.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The firm currently has a “buy” rating on the apparel retailer’s stock. BTIG Research’s target price would suggest a potential upside of 52.67% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Lululemon Athletica from $391.00 to $389.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. KeyCorp lowered their price objective on shares of Lululemon Athletica from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. Needham & Company LLC lowered their price objective on shares of Lululemon Athletica from $366.00 to $317.00 and set a “buy” rating on the stock in a research report on Friday. Telsey Advisory Group reissued an “outperform” rating and set a $385.00 price objective on shares of Lululemon Athletica in a research report on Monday, June 2nd. Finally, Evercore ISI raised their price objective on shares of Lululemon Athletica from $320.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $344.96.

Lululemon Athletica Trading Down 19.8%

Shares of LULU opened at $265.27 on Friday. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $423.32. The firm’s fifty day simple moving average is $285.93 and its 200-day simple moving average is $338.08. The firm has a market capitalization of $32.00 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.22 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.60. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the business earned $2.54 EPS. The company’s revenue was up 7.3% on a year-over-year basis. On average, analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Trading of Lululemon Athletica

A number of institutional investors have recently added to or reduced their stakes in LULU. Price T Rowe Associates Inc. MD boosted its holdings in Lululemon Athletica by 95.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock worth $1,854,160,000 after buying an additional 2,371,079 shares in the last quarter. Mawer Investment Management Ltd. purchased a new stake in Lululemon Athletica during the fourth quarter worth about $523,520,000. Diamond Hill Capital Management Inc. purchased a new stake in Lululemon Athletica during the fourth quarter worth about $370,062,000. Alliancebernstein L.P. boosted its holdings in Lululemon Athletica by 14.9% during the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock worth $1,681,682,000 after buying an additional 571,657 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Lululemon Athletica by 37,062.1% during the first quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer’s stock worth $159,364,000 after buying an additional 561,491 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.