TD Cowen Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $375.00

Lululemon Athletica (NASDAQ:LULU) had its price objective cut by TD Cowen from $420.00 to $375.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the apparel retailer’s stock.

Other research analysts have also issued reports about the company. Wedbush increased their price objective on Lululemon Athletica from $397.00 to $400.00 and gave the company an outperform rating in a report on Thursday, June 6th. JPMorgan Chase & Co. decreased their target price on shares of Lululemon Athletica from $457.00 to $338.00 and set an overweight rating for the company in a research report on Thursday, July 25th. Evercore ISI reiterated an outperform rating and set a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday. UBS Group decreased their price objective on Lululemon Athletica from $385.00 to $315.00 and set a neutral rating for the company in a report on Tuesday, August 20th. Finally, Stifel Nicolaus dropped their target price on Lululemon Athletica from $416.00 to $370.00 and set a buy rating on the stock in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $375.00.

Lululemon Athletica Stock Up 0.1 %

Shares of Lululemon Athletica stock opened at $259.01 on Tuesday. The company has a market cap of $32.38 billion, a P/E ratio of 20.77, a PEG ratio of 1.25 and a beta of 1.26. The firm’s 50 day moving average price is $273.65 and its 200-day moving average price is $341.85. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.19. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.68 earnings per share. As a group, equities research analysts forecast that Lululemon Athletica will post 14.22 EPS for the current fiscal year.

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

Institutional Investors Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently bought and sold shares of LULU. Tidemark LLC purchased a new stake in shares of Lululemon Athletica in the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC acquired a new stake in Lululemon Athletica during the fourth quarter worth $26,000. Benjamin Edwards Inc. raised its position in 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 period. Riverview Trust Co acquired a new position in shares of Lululemon Athletica in the 1st quarter valued at $29,000. Finally, Larson Financial Group LLC grew its holdings in shares of Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.