Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $470.00 by Analysts at Telsey Advisory Group

Lululemon Athletica (NASDAQ:LULUFree Report) had its target price lowered by Telsey Advisory Group from $550.00 to $470.00 in a research report sent to investors on Thursday, MarketBeat reports. The brokerage currently has an outperform rating on the apparel retailer’s stock.

Several other equities analysts have also issued reports on the company. KeyCorp dropped their price objective on Lululemon Athletica from $570.00 to $515.00 and set an overweight rating on the stock in a report on Friday, March 22nd. Truist Financial cut their price target on Lululemon Athletica from $498.00 to $415.00 and set a buy rating on the stock in a research report on Monday. Bank of America lowered their target price on shares of Lululemon Athletica from $530.00 to $430.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. Jefferies Financial Group reduced their price target on shares of Lululemon Athletica from $300.00 to $240.00 and set an underperform rating for the company in a research report on Thursday, April 4th. Finally, Barclays downgraded shares of Lululemon Athletica from an overweight rating to an equal weight rating and lowered their price objective for the stock from $546.00 to $395.00 in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $437.55.

Get Our Latest Stock Analysis on LULU

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $323.03 on Thursday. Lululemon Athletica has a 1 year low of $293.03 and a 1 year high of $516.39. The stock has a market cap of $40.71 billion, a P/E ratio of 26.46, a P/E/G ratio of 1.46 and a beta of 1.27. The stock has a 50-day simple moving average of $341.94 and a 200-day simple moving average of $423.64.

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, beating the consensus estimate of $2.38 by $0.16. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.28 earnings per share. On average, equities research analysts predict that Lululemon Athletica will post 14.08 EPS for the current year.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of the company’s stock in a transaction on 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 acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $194,645. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Lululemon Athletica by 32.3% during the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after acquiring an additional 2,369,119 shares during the last quarter. International Assets Investment Management LLC boosted its position in Lululemon Athletica by 51,219.6% during the fourth quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock worth $351,868,000 after acquiring an additional 686,855 shares during the last quarter. Norges Bank purchased a new stake in Lululemon Athletica in the 4th quarter worth approximately $236,378,000. Morgan Stanley raised its holdings in Lululemon Athletica by 29.2% in the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock valued at $746,034,000 after acquiring an additional 437,069 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Lululemon Athletica by 20.0% during the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock worth $719,198,000 after purchasing an additional 310,347 shares during the period. Institutional investors and hedge funds 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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