Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $325.00 by Analysts at Raymond James

Lululemon Athletica (NASDAQ:LULU) had its target price cut by Raymond James from $350.00 to $325.00 in a research report released on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the apparel retailer’s stock.

A number of other brokerages have also commented on LULU. Evercore ISI reiterated an outperform rating and set a $300.00 price target on shares of Lululemon Athletica in a report on Monday, August 26th. Jefferies Financial Group reissued an underperform rating and issued a $220.00 price target on shares of Lululemon Athletica in a report on Thursday, July 25th. Bank of America cut their price objective on shares of Lululemon Athletica from $440.00 to $355.00 and set a buy rating for the company in a research report on Friday. Wells Fargo & Company decreased their target price on Lululemon Athletica from $350.00 to $285.00 and set an equal weight rating on the stock in a research report on Friday, August 23rd. Finally, The Goldman Sachs Group downgraded Lululemon Athletica from a buy rating to a neutral rating and reduced their price objective for the stock from $463.00 to $286.00 in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has an average rating of Moderate Buy and an average price target of $354.94.

Lululemon Athletica Trading Up 0.2 %

Shares of LULU stock opened at $259.47 on Monday. The company has a market capitalization of $32.43 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 1.40 and a beta of 1.26. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $516.39. The stock’s fifty day simple moving average is $270.51 and its 200-day simple moving average is $336.76.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. Lululemon Athletica’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 earnings per share. On average, sell-side analysts predict that Lululemon Athletica will post 13.9 EPS for the current year.

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

Institutional Investors Weigh In On Lululemon Athletica

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