Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $470.00

Lululemon Athletica (NASDAQ:LULU) had its target price reduced by equities research analysts at Robert W. Baird from $505.00 to $470.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the apparel retailer’s stock. Robert W. Baird’s price objective indicates a potential upside of 56.50% from the company’s current price.

LULU has been the topic of several other reports. Evercore ISI dropped their target price on Lululemon Athletica from $515.00 to $400.00 in a research report on Wednesday, June 5th. Bank of America increased their price objective on Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wedbush lifted their target price on shares of Lululemon Athletica from $397.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and boosted their target price for the stock from $405.00 to $425.00 in a research report on Thursday, June 6th. Finally, Truist Financial cut their price target on shares of Lululemon Athletica from $498.00 to $415.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $431.94.

Lululemon Athletica Trading Down 0.4 %

NASDAQ:LULU opened at $300.32 on Wednesday. The firm has a market capitalization of $37.54 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 1.50 and a beta of 1.26. Lululemon Athletica has a 52 week low of $293.03 and a 52 week high of $516.39. The stock has a 50 day moving average of $323.33 and a 200-day moving average of $403.45.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.16. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $2.28 earnings per share. As a group, analysts predict that Lululemon Athletica will post 14.29 EPS for the current fiscal year.

Lululemon Athletica declared that its board has approved a stock repurchase program on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LULU. Vanguard Group Inc. increased its stake in shares of 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 during the period. International Assets Investment Management LLC increased its position in shares of Lululemon Athletica by 51,219.6% in the 4th quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock valued at $351,868,000 after purchasing an additional 686,855 shares during the last quarter. Norges Bank acquired a new stake in shares of Lululemon Athletica in the 4th quarter valued at $236,378,000. Morgan Stanley lifted its position in shares of Lululemon Athletica by 29.2% during the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after purchasing an additional 437,069 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Lululemon Athletica by 32.7% during the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after purchasing an additional 257,944 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Company Profile

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.