The Goldman Sachs Group Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $302.00

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by The Goldman Sachs Group from $363.00 to $302.00 in a report issued on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the apparel retailer’s stock.

Several other analysts have also recently commented on the company. Telsey Advisory Group lowered their price target on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Needham & Company LLC cut their price target on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Stifel Nicolaus lowered their price objective on shares of Lululemon Athletica from $424.00 to $353.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Morgan Stanley cut their target price on Lululemon Athletica from $411.00 to $373.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, Oppenheimer boosted their price target on Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average target price of $372.28.

Lululemon Athletica Stock Up 1.8 %

Shares of LULU stock opened at $270.64 on Tuesday. The business has a fifty day simple moving average of $307.99 and a 200-day simple moving average of $338.07. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32. The stock has a market cap of $32.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the business earned $5.29 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Investors Weigh In On Lululemon Athletica

Several institutional investors and hedge funds have recently bought and sold shares of the business. Patron Partners LLC raised its position in shares of Lululemon Athletica by 37.9% during the 1st quarter. Patron Partners LLC now owns 910 shares of the apparel retailer’s stock worth $258,000 after purchasing an additional 250 shares during the period. Lafayette Investments Inc. increased its position in Lululemon Athletica by 13.3% in the first quarter. Lafayette Investments Inc. now owns 1,015 shares of the apparel retailer’s stock worth $287,000 after buying an additional 119 shares during the period. Achmea Investment Management B.V. increased its position in Lululemon Athletica by 16.4% in the first quarter. Achmea Investment Management B.V. now owns 23,653 shares of the apparel retailer’s stock worth $6,695,000 after buying an additional 3,330 shares during the period. Paragon Capital Management Inc. acquired a new position in shares of Lululemon Athletica during the first quarter valued at $630,000. Finally, KG&L Capital Management LLC grew its position in shares of Lululemon Athletica by 15.1% during the first quarter. KG&L Capital Management LLC now owns 1,298 shares of the apparel retailer’s stock worth $367,000 after acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.