Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $376.00

Lululemon Athletica (NASDAQ:LULU) had its price objective decreased by Sanford C. Bernstein from $384.00 to $376.00 in a research note released on Friday morning, Marketbeat Ratings reports. Sanford C. Bernstein currently has a market perform rating on the apparel retailer’s stock.

Other analysts have also recently issued research reports about the company. Guggenheim reduced their price objective on Lululemon Athletica from $550.00 to $525.00 and set a buy rating for the company in a research report on Friday, March 22nd. TD Cowen reduced their price objective on Lululemon Athletica from $553.00 to $515.00 and set an outperform rating for the company in a research report on Friday, March 22nd. Oppenheimer reissued an outperform rating and set a $445.00 price objective (down previously from $540.00) on shares of Lululemon Athletica in a research report on Friday, April 5th. Wedbush reduced their price objective on Lululemon Athletica from $492.00 to $397.00 and set an outperform rating for the company in a research report on Wednesday. Finally, BMO Capital Markets raised their target price on Lululemon Athletica from $408.00 to $420.00 and gave the company a market perform rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of Moderate Buy and a consensus price target of $465.13.

Lululemon Athletica Stock Performance

Shares of LULU stock traded up $3.27 during mid-day trading on Friday, hitting $303.01. 2,284,014 shares of the stock traded hands, compared to its average volume of 2,217,502. Lululemon Athletica has a twelve month low of $295.28 and a twelve month high of $516.39. The firm has a market cap of $38.18 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 1.35 and a beta of 1.30. The company’s 50-day simple moving average is $363.48 and its 200-day simple moving average is $430.65.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data 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. The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company posted $4.40 EPS. Analysts forecast that Lululemon Athletica will post 14.11 earnings per share for the current year.

Insider Activity

In related news, Director Martha A. M. Morfitt acquired 700 shares of the stock in a transaction dated Tuesday, March 26th. The shares were bought at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the purchase, the director now owns 500 shares in the company, valued at approximately $194,645. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Hedge funds have recently made changes to their positions in the company. Valley National Advisers Inc. increased its position in Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Tidemark LLC bought a new position in Lululemon Athletica in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in Lululemon Athletica in the fourth quarter valued at approximately $26,000. Milestone Investment Advisors LLC acquired a new stake in shares of Lululemon Athletica in the third quarter valued at approximately $27,000. Finally, Benjamin Edwards Inc. raised its holdings in shares of Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 44 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.