Lululemon Athletica (NASDAQ:LULU) PT Lowered to $285.00

Lululemon Athletica (NASDAQ:LULU) had its price objective decreased by investment analysts at Wells Fargo & Company from $350.00 to $285.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.34% from the company’s previous close.

Several other equities research analysts have also recently issued reports on LULU. Bank of America raised their target price on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Evercore ISI cut their price objective on Lululemon Athletica from $400.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, July 26th. TD Cowen lowered their target price on Lululemon Athletica from $447.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Sanford C. Bernstein boosted their price target on Lululemon Athletica from $376.00 to $382.00 and gave the company a “market perform” rating in a research note on Friday, June 7th. Finally, Wedbush increased their price objective on shares of Lululemon Athletica from $397.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $390.35.

Lululemon Athletica Price Performance

NASDAQ LULU traded up $2.05 during mid-day trading on Friday, reaching $265.50. The stock had a trading volume of 418,500 shares, compared to its average volume of 2,074,062. The company has a fifty day moving average price of $277.15 and a 200 day moving average price of $348.11. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39. The stock has a market cap of $33.19 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company posted $2.28 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts expect that Lululemon Athletica will post 14.22 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a share buyback program on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LULU. Tidemark LLC bought a new position in shares of Lululemon Athletica during the 4th quarter worth $26,000. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $31,000. True Wealth Design LLC boosted its stake in shares of Lululemon Athletica by 2,950.0% during the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 59 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its stake in Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after buying an additional 44 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

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.