Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $350.00 by Analysts at Wells Fargo & Company

Lululemon Athletica (NASDAQ:LULUFree Report) had its price objective reduced by Wells Fargo & Company from $425.00 to $350.00 in a research note issued to investors on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the apparel retailer’s stock.

A number of other research firms also recently issued reports on LULU. UBS Group dropped their price target on Lululemon Athletica from $475.00 to $385.00 and set a neutral rating on the stock in a research note on Wednesday, May 22nd. BTIG Research initiated coverage on Lululemon Athletica in a research report on Wednesday, May 8th. They issued a buy rating and a $425.00 target price on the stock. Guggenheim reduced their price target on shares of Lululemon Athletica from $550.00 to $525.00 and set a buy rating for the company in a research report on Friday, March 22nd. Stifel Nicolaus raised their price objective on shares of Lululemon Athletica from $410.00 to $416.00 and gave the stock a buy rating in a report on Thursday. Finally, Needham & Company LLC reduced their target price on shares of Lululemon Athletica from $525.00 to $500.00 and set a buy rating for the company in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica presently has an average rating of Moderate Buy and an average price target of $437.55.

Check Out Our Latest Research Report on Lululemon Athletica

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $323.03 on Thursday. Lululemon Athletica has a one year low of $293.03 and a one year high of $516.39. The business’s fifty day moving average is $341.94 and its 200 day moving average is $423.64. The stock has a market capitalization of $40.71 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last announced its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the business posted $2.28 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, sell-side analysts expect that Lululemon Athletica will post 14.08 EPS for the current fiscal year.

Insider Buying and Selling at Lululemon Athletica

In other news, Director Martha A. M. Morfitt bought 700 shares of the stock in a transaction dated Tuesday, March 26th. The stock was purchased at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at $194,645. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sheaff Brock Investment Advisors LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at approximately $1,114,000. Rockline Wealth Management LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $1,503,000. Envestnet Asset Management Inc. increased its position in shares of Lululemon Athletica by 30.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 189,953 shares of the apparel retailer’s stock valued at $73,248,000 after purchasing an additional 44,141 shares during the last quarter. Advisory Services Network LLC raised its holdings in Lululemon Athletica by 6.0% during the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock valued at $2,874,000 after buying an additional 319 shares during the period. Finally, Blair William & Co. IL lifted its position in Lululemon Athletica by 1.9% in the third quarter. Blair William & Co. IL now owns 290,658 shares of the apparel retailer’s stock worth $112,081,000 after buying an additional 5,403 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

About Lululemon Athletica

(Get Free Report)

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.

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Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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