Robert W. Baird Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $505.00

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by Robert W. Baird from $555.00 to $505.00 in a report issued on Friday morning, Marketbeat Ratings reports. They currently have an outperform rating on the apparel retailer’s stock.

A number of other research analysts have also recently issued reports on LULU. TD Cowen decreased their price target on shares of Lululemon Athletica from $553.00 to $515.00 and set an outperform rating for the company in a report on Friday, March 22nd. HSBC dropped their price target on Lululemon Athletica from $500.00 to $405.00 in a research note on Wednesday, April 10th. Citigroup reduced their price objective on Lululemon Athletica from $520.00 to $500.00 and set a buy rating for the company in a research note on Friday, March 22nd. JPMorgan Chase & Co. dropped their target price on Lululemon Athletica from $531.00 to $509.00 and set an overweight rating on the stock in a research report on Friday, March 22nd. Finally, Barclays reduced their price target on shares of Lululemon Athletica from $610.00 to $546.00 and set an overweight rating for the company in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a 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 $483.61.

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $361.79 on Friday. Lululemon Athletica has a 1-year low of $326.93 and a 1-year high of $516.39. The business has a fifty day moving average price of $418.00 and a 200-day moving average price of $439.39. The stock has a market capitalization of $45.59 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 1.25 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The business had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the company earned $4.40 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities research analysts anticipate that Lululemon Athletica will post 14.15 earnings per share for the current fiscal year.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now owns 500 shares in the company, valued at $194,645. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Daymark Wealth Partners LLC lifted its stake in Lululemon Athletica by 3.8% in the fourth quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock worth $293,000 after acquiring an additional 21 shares during the last quarter. Simon Quick Advisors LLC increased its position in Lululemon Athletica by 1.9% during the fourth quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after buying an additional 22 shares during the period. Pinnacle Financial Partners Inc lifted its stake in Lululemon Athletica by 1.9% in the fourth quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after buying an additional 23 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Lululemon Athletica by 11.1% in the third quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock valued at $97,000 after acquiring an additional 25 shares during the period. Finally, Sage Mountain Advisors LLC grew its position in shares of Lululemon Athletica by 3.3% during the third quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer’s stock worth $312,000 after acquiring an additional 26 shares during the last quarter. Hedge funds and other institutional investors 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.