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

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by BTIG Research from $420.00 to $405.00 in a research note released on Friday morning, MarketBeat.com reports. They currently have a buy rating on the apparel retailer’s stock.

A number of other brokerages have also recently weighed in on LULU. Wells Fargo & Company dropped their target price on shares of Lululemon Athletica from $315.00 to $300.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Raymond James reiterated a “market perform” rating and set a $430.00 price objective on shares of Lululemon Athletica in a research note on Friday, March 28th. Needham & Company LLC cut their target price on shares of Lululemon Athletica from $366.00 to $317.00 and set a “buy” rating on the stock in a report on Friday. Stifel Nicolaus lowered their target price on Lululemon Athletica from $424.00 to $353.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, UBS Group dropped their price target on Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating on the stock in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average target price of $344.96.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $265.27 on Friday. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The company’s fifty day moving average price is $285.93 and its two-hundred day moving average price is $338.24.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) 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 quarter in the prior year, the business posted $2.54 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts anticipate that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. TCTC Holdings LLC bought a new position in Lululemon Athletica during the 4th quarter valued at $26,000. Anderson Financial Strategies LLC bought a new position in Lululemon Athletica during the fourth quarter valued at about $30,000. Kestra Investment Management LLC bought a new position in Lululemon Athletica during the fourth quarter valued at about $32,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Lululemon Athletica during the fourth quarter worth about $32,000. Finally, Asset Planning Inc bought a new stake in Lululemon Athletica in the fourth quarter worth about $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.