Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $384.00 by Analysts at BMO Capital Markets

Lululemon Athletica (NASDAQ:LULUFree Report) had its price target trimmed by BMO Capital Markets from $420.00 to $384.00 in a research note released on Thursday, Benzinga reports. They currently have a market perform rating on the apparel retailer’s stock.

Several other equities analysts have also recently issued reports on the stock. Citigroup lowered their target price on shares of Lululemon Athletica from $500.00 to $415.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. Morgan Stanley lowered their target price on shares of Lululemon Athletica from $490.00 to $404.00 and set an overweight rating on the stock in a research note on Wednesday, May 29th. KeyCorp lowered their target price on shares of Lululemon Athletica from $570.00 to $515.00 and set an overweight rating on the stock in a research note on Friday, March 22nd. Oppenheimer restated an outperform rating and set a $445.00 target price (down previously from $540.00) on shares of Lululemon Athletica in a research note on Friday, April 5th. Finally, Guggenheim lowered their target price on shares of Lululemon Athletica from $550.00 to $525.00 and set a buy rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $437.55.

View Our Latest Stock Report on Lululemon Athletica

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock opened at $323.03 on Thursday. The stock has a market cap of $40.71 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.46 and a beta of 1.27. The firm’s 50-day moving average is $341.94 and its 200 day moving average is $423.64. Lululemon Athletica has a 1 year low of $293.03 and a 1 year high of $516.39.

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

Insider Buying and Selling at Lululemon Athletica

In related news, Director Martha A. M. Morfitt acquired 700 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was acquired at an average cost of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now directly owns 500 shares in the company, valued at approximately $194,645. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors have recently added to or reduced their stakes in the stock. Daymark Wealth Partners LLC boosted its position in shares of Lululemon Athletica by 3.8% during the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock valued at $293,000 after acquiring an additional 21 shares during the last quarter. Simon Quick Advisors LLC boosted its position in shares of Lululemon Athletica by 1.9% during the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock valued at $612,000 after acquiring an additional 22 shares during the last quarter. Pinnacle Financial Partners Inc boosted its position in shares of Lululemon Athletica by 1.9% during the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after acquiring an additional 23 shares during the last quarter. Baker Avenue Asset Management LP boosted its position in shares of Lululemon Athletica by 11.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock valued at $97,000 after acquiring an additional 25 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its position in shares of Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after acquiring an additional 29 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Company Profile

(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.

Further Reading

Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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