Lululemon Athletica (NASDAQ:LULU) Price Target Lowered to $324.00 at Wedbush

Lululemon Athletica (NASDAQ:LULU) had its price target cut by Wedbush from $400.00 to $324.00 in a research report report published on Wednesday, Marketbeat.com reports. They currently have an outperform rating on the apparel retailer’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Evercore ISI reiterated an outperform rating and set a $300.00 price target on shares of Lululemon Athletica in a research report on Monday. Oppenheimer reissued an outperform rating and issued a $445.00 target price on shares of Lululemon Athletica in a research report on Thursday, June 6th. Robert W. Baird lowered their price target on Lululemon Athletica from $470.00 to $350.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. Morgan Stanley dropped their price objective on Lululemon Athletica from $404.00 to $329.00 and set an overweight rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their target price on Lululemon Athletica from $457.00 to $338.00 and set an overweight rating on the stock in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $375.00.

Lululemon Athletica Stock Performance

LULU stock opened at $258.83 on Wednesday. Lululemon Athletica has a one year low of $226.01 and a one year high of $516.39. The firm has a market cap of $32.35 billion, a PE ratio of 20.76, a PEG ratio of 1.25 and a beta of 1.26. The firm’s 50 day moving average price is $274.73 and its 200-day moving average price is $342.43.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the firm earned $2.28 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts predict that Lululemon Athletica will post 14.22 EPS for the current fiscal year.

Lululemon Athletica announced that its board has approved a share buyback program on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Lululemon Athletica

Several institutional investors and hedge funds have recently made changes to their positions in LULU. Moody National Bank Trust Division increased its position in Lululemon Athletica by 1.0% during the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after buying an additional 29 shares during the period. Congress Wealth Management LLC DE increased its holdings in shares of Lululemon Athletica by 2.0% in the 4th quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock valued at $777,000 after acquiring an additional 30 shares during the period. Graypoint LLC raised its position in Lululemon Athletica by 5.1% in the 1st quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock valued at $273,000 after purchasing an additional 34 shares during the last quarter. William Allan Corp boosted its stake in Lululemon Athletica by 0.8% during the 1st quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock worth $1,913,000 after purchasing an additional 37 shares during the period. Finally, FinTrust Capital Advisors LLC grew its position in Lululemon Athletica by 50.7% during the 4th quarter. FinTrust Capital Advisors LLC now owns 113 shares of the apparel retailer’s stock worth $58,000 after purchasing an additional 38 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

About Lululemon Athletica

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.