Robert W. Baird Lowers lululemon athletica (NASDAQ:LULU) Price Target to $260.00

lululemon athletica (NASDAQ:LULU) had its price target dropped by equities research analysts at Robert W. Baird from $340.00 to $260.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the apparel retailer’s stock. Robert W. Baird’s price target indicates a potential upside of 34.76% from the stock’s previous close.

Several other analysts have also recently issued reports on LULU. UBS Group cut their price target on shares of lululemon athletica from $330.00 to $290.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Barclays cut their target price on shares of lululemon athletica from $270.00 to $209.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. TD Securities lifted their price target on lululemon athletica from $370.00 to $373.00 and gave the stock a “buy” rating in a research note on Tuesday, June 3rd. Stifel Nicolaus cut their price objective on lululemon athletica from $353.00 to $324.00 and set a “buy” rating on the stock in a research note on Friday, June 6th. Finally, Jefferies Financial Group decreased their target price on lululemon athletica from $220.00 to $200.00 and set an “underperform” rating for the company in a research report on Friday, June 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $327.15.

lululemon athletica Stock Performance

Shares of NASDAQ LULU opened at $192.93 on Monday. lululemon athletica has a 1 year low of $185.95 and a 1 year high of $423.32. The stock’s 50-day simple moving average is $230.90 and its 200-day simple moving average is $290.19. The firm has a market cap of $23.12 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.59 and a beta of 1.16.

lululemon athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.60. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the business earned $2.54 EPS. lululemon athletica’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts predict that lululemon athletica will post 14.36 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Calvin Mcdonald sold 27,049 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $235.69, for a total value of $6,375,178.81. Following the completion of the transaction, the chief executive officer owned 110,564 shares of the company’s stock, valued at approximately $26,058,829.16. This represents a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.54% of the stock is owned by insiders.

Institutional Investors Weigh In On lululemon athletica

Institutional investors have recently bought and sold shares of the stock. N.E.W. Advisory Services LLC bought a new stake in shares of lululemon athletica during the 1st quarter worth about $25,000. Cornerstone Planning Group LLC increased its stake in shares of lululemon athletica by 506.3% during the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Flaharty Asset Management LLC bought a new stake in lululemon athletica during the first quarter worth approximately $29,000. Blue Trust Inc. raised its holdings in lululemon athletica by 96.8% during the second quarter. Blue Trust Inc. now owns 124 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in lululemon athletica in the fourth quarter worth approximately $30,000. 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.