lululemon athletica (NASDAQ:LULU – Get Free Report) had its price objective cut by investment analysts at Evercore from $175.00 to $130.00 in a note issued to investors on Wednesday,MarketScreener reports. Evercore’s target price suggests a potential upside of 2.79% from the stock’s current price.
Several other brokerages have also recently commented on LULU. The Goldman Sachs Group dropped their price objective on lululemon athletica from $200.00 to $184.00 and set a “neutral” rating for the company in a research note on Wednesday, March 11th. Robert W. Baird lowered their target price on lululemon athletica from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. dropped their price target on lululemon athletica from $196.00 to $173.00 in a research report on Wednesday, May 6th. Truist Financial cut their price target on lululemon athletica from $200.00 to $170.00 and set a “hold” rating for the company in a research note on Wednesday, March 18th. Finally, Stifel Nicolaus decreased their price objective on shares of lululemon athletica from $210.00 to $176.00 and set a “hold” rating on the stock in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twenty-eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, lululemon athletica presently has a consensus rating of “Hold” and an average target price of $197.09.
Get Our Latest Analysis on LULU
lululemon athletica Stock Down 4.3%
lululemon athletica (NASDAQ:LULU – Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The apparel retailer reported $5.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.23. lululemon athletica had a net margin of 14.22% and a return on equity of 34.82%. The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the company posted $6.14 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Analysts expect that lululemon athletica will post 12.26 earnings per share for the current fiscal year.
Insider Activity at lululemon athletica
In other news, CEO Andre Maestrini bought 3,275 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was acquired at an average price of $151.02 per share, for a total transaction of $494,590.50. Following the acquisition, the chief executive officer owned 34,551 shares of the company’s stock, valued at $5,217,892.02. This trade represents a 10.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles V. Bergh bought 6,090 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $164.20 per share, with a total value of $999,978.00. Following the transaction, the director owned 6,090 shares in the company, valued at approximately $999,978. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.54% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in LULU. Caerus Investment Advisors LLC purchased a new stake in shares of lululemon athletica during the first quarter valued at approximately $294,000. Financial Solutions Advisory Group Inc. acquired a new stake in lululemon athletica during the 1st quarter valued at $338,000. Asset Dedication LLC grew its holdings in lululemon athletica by 15.1% during the 1st quarter. Asset Dedication LLC now owns 3,794 shares of the apparel retailer’s stock valued at $581,000 after purchasing an additional 499 shares in the last quarter. Groupama Asset Managment increased its stake in lululemon athletica by 47.0% during the 1st quarter. Groupama Asset Managment now owns 1,751 shares of the apparel retailer’s stock worth $268,000 after buying an additional 560 shares during the period. Finally, Essential Partners LLC lifted its holdings in lululemon athletica by 84,500.0% in the 1st quarter. Essential Partners LLC now owns 1,692 shares of the apparel retailer’s stock worth $259,000 after buying an additional 1,690 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.
About lululemon athletica
lululemon athletica inc. is a design-focused athletic apparel company known for performance-oriented apparel, footwear and accessories. The company’s product portfolio centers on technical apparel for yoga, running, training and everyday active lifestyle use and includes tops, bottoms, outerwear, underwear, bags and a growing footwear assortment. lululemon emphasizes fabric science and product innovation, marketing garments that blend performance features with lifestyle styling.
Products are developed in-house and produced through a network of third-party manufacturers.
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