Raymond James Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $325.00

Lululemon Athletica (NASDAQ:LULU) had its target price lowered by Raymond James from $350.00 to $325.00 in a research report report published on Monday, BayStreet.CA reports. The firm currently has an outperform rating on the apparel retailer’s stock.

LULU has been the subject of several other reports. Bank of America dropped their price objective on Lululemon Athletica from $440.00 to $355.00 and set a buy rating for the company in a research note on Friday, August 30th. HSBC raised shares of Lululemon Athletica from a hold rating to a buy rating and raised their price objective for the stock from $405.00 to $425.00 in a report on Thursday, June 6th. The Goldman Sachs Group downgraded Lululemon Athletica from a buy rating to a neutral rating and reduced their target price for the stock from $463.00 to $286.00 in a report on Friday, August 2nd. Morgan Stanley dropped their price target on Lululemon Athletica from $329.00 to $326.00 and set an overweight rating for the company in a report on Sunday. Finally, Evercore ISI reiterated an outperform rating and issued a $300.00 price objective on shares of Lululemon Athletica in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica presently has an average rating of Moderate Buy and an average target price of $354.94.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $255.51 on Monday. The stock has a market cap of $31.94 billion, a P/E ratio of 20.49, a PEG ratio of 1.40 and a beta of 1.26. The company has a fifty day moving average price of $268.50 and a 200 day moving average price of $334.85. Lululemon Athletica has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company earned $2.68 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Lululemon Athletica will post 13.9 EPS for the current year.

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

Institutional Trading of Lululemon Athletica

A number of institutional investors have recently modified their holdings of the company. Brown Financial Advisors acquired a new stake in Lululemon Athletica in the 2nd quarter valued at approximately $260,000. KPP Advisory Services LLC acquired a new stake in shares of Lululemon Athletica in the second quarter valued at approximately $517,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Lululemon Athletica by 8.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 24,492 shares of the apparel retailer’s stock worth $7,315,000 after purchasing an additional 1,918 shares in the last quarter. Quarry LP lifted its position in shares of Lululemon Athletica by 285.9% in the second quarter. Quarry LP now owns 355 shares of the apparel retailer’s stock worth $106,000 after purchasing an additional 263 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its position in Lululemon Athletica by 9.0% in the second quarter. Sunbelt Securities Inc. now owns 908 shares of the apparel retailer’s stock valued at $271,000 after purchasing an additional 75 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.