Wells Fargo & Company Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $300.00

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by equities research analysts at Wells Fargo & Company from $315.00 to $300.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 11.69% from the company’s previous close.

A number of other research analysts also recently commented on LULU. JPMorgan Chase & Co. reduced 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 note on Monday, April 14th. Cfra Research upgraded Lululemon Athletica from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. UBS Group decreased their target price on Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating for the company in a research report on Friday, March 28th. BMO Capital Markets dropped their price target on Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating on the stock in a research report on Friday, March 28th. Finally, Citigroup lowered their target price on shares of Lululemon Athletica from $330.00 to $275.00 and set a “neutral” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $369.86.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $268.60 on Wednesday. The company’s fifty day moving average price is $298.27 and its two-hundred day moving average price is $337.78. The firm has a market capitalization of $32.40 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.22 and a beta of 1.31. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the firm earned $5.29 EPS. Lululemon Athletica’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Lululemon Athletica will post 14.36 EPS for the current year.

Hedge Funds Weigh In On Lululemon Athletica

Large investors have recently made changes to their positions in the business. Peregrine Investment Management Inc. raised its holdings in shares of Lululemon Athletica by 4.1% in the 1st quarter. Peregrine Investment Management Inc. now owns 13,120 shares of the apparel retailer’s stock worth $3,714,000 after purchasing an additional 520 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Lululemon Athletica by 54.7% in the first quarter. Asset Dedication LLC now owns 1,077 shares of the apparel retailer’s stock valued at $305,000 after buying an additional 381 shares in the last quarter. CWM LLC lifted its position in shares of Lululemon Athletica by 22.7% during the 1st quarter. CWM LLC now owns 16,170 shares of the apparel retailer’s stock valued at $4,577,000 after acquiring an additional 2,989 shares during the last quarter. TFR Capital LLC. boosted its stake in shares of Lululemon Athletica by 3.3% during the 1st quarter. TFR Capital LLC. now owns 2,954 shares of the apparel retailer’s stock worth $836,000 after acquiring an additional 94 shares in the last quarter. Finally, Schear Investment Advisers LLC grew its holdings in shares of Lululemon Athletica by 7.1% in the 1st quarter. Schear Investment Advisers LLC now owns 3,261 shares of the apparel retailer’s stock worth $923,000 after acquiring an additional 216 shares during the last quarter. 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.