Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $384.00

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by Sanford C. Bernstein from $430.00 to $384.00 in a research report sent to investors on Friday, BayStreet.CA reports. Sanford C. Bernstein currently has a market perform rating on the apparel retailer’s stock.

A number of other equities research analysts have also issued reports on LULU. Citigroup cut their price target on shares of Lululemon Athletica from $520.00 to $500.00 and set a buy rating on the stock in a report on Friday, March 22nd. Morgan Stanley cut their price target on shares of Lululemon Athletica from $539.00 to $490.00 and set an overweight rating on the stock in a report on Friday, March 22nd. Telsey Advisory Group reaffirmed an outperform rating and set a $550.00 target price on shares of Lululemon Athletica in a research note on Friday, March 22nd. Oppenheimer reaffirmed an outperform rating and set a $445.00 target price (down previously from $540.00) on shares of Lululemon Athletica in a research note on Friday, April 5th. Finally, Piper Sandler cut their target price on shares of Lululemon Athletica from $525.00 to $470.00 and set an overweight rating on the stock in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, Lululemon Athletica currently has a consensus rating of Moderate Buy and a consensus price target of $481.96.

Lululemon Athletica Stock Up 1.3 %

Shares of NASDAQ:LULU opened at $364.70 on Friday. The stock has a market cap of $45.96 billion, a PE ratio of 29.87, a PEG ratio of 1.27 and a beta of 1.30. The company’s fifty day moving average is $410.57 and its 200 day moving average is $438.25. Lululemon Athletica has a 52 week low of $326.93 and a 52 week high of $516.39.

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

Insider Transactions at Lululemon Athletica

In other news, Director Martha A. M. Morfitt bought 700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average price of $389.29 per share, with a total value of $272,503.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Lululemon Athletica

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Lululemon Athletica by 32.3% during the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after buying an additional 2,369,119 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Lululemon Athletica by 51,219.6% in the fourth quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock worth $351,868,000 after buying an additional 686,855 shares in the last quarter. Norges Bank purchased a new position in shares of Lululemon Athletica in the fourth quarter worth about $236,378,000. Morgan Stanley lifted its stake in shares of Lululemon Athletica by 29.2% in the third quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after buying an additional 437,069 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Lululemon Athletica by 20.0% in the third quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock worth $719,198,000 after buying an additional 310,347 shares in 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.