Morgan Stanley Trims Lululemon Athletica (NASDAQ:LULU) Target Price to $314.00

Lululemon Athletica (NASDAQ:LULU) had its price target decreased by Morgan Stanley from $326.00 to $314.00 in a research report sent to investors on Tuesday, MarketBeat.com reports. Morgan Stanley currently has an overweight rating on the apparel retailer’s stock.

Other research analysts have also recently issued research reports about the stock. Citigroup lowered their price target on shares of Lululemon Athletica from $300.00 to $270.00 and set a neutral rating for the company in a report on Thursday, August 22nd. Wells Fargo & Company lowered their target price on shares of Lululemon Athletica from $350.00 to $285.00 and set an equal weight rating for the company in a research note on Friday, August 23rd. HSBC raised Lululemon Athletica from a hold rating to a buy rating and increased their target price for the company from $405.00 to $425.00 in a report on Thursday, June 6th. Oppenheimer reaffirmed an outperform rating and set a $445.00 price objective on shares of Lululemon Athletica in a research report on Thursday, June 6th. Finally, KeyCorp dropped their price objective on Lululemon Athletica from $415.00 to $350.00 and set an overweight rating on the stock in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $354.55.

Lululemon Athletica Stock Performance

Shares of LULU opened at $262.56 on Tuesday. The stock has a market capitalization of $32.82 billion, a PE ratio of 21.06, a P/E/G ratio of 1.40 and a beta of 1.25. The company’s 50-day simple moving average is $257.19 and its 200-day simple moving average is $307.20. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.68 earnings per share. On average, sell-side analysts predict that Lululemon Athletica will post 14.03 earnings per share for the current year.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the purchase, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moody National Bank Trust Division grew its holdings in shares of Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after purchasing an additional 29 shares during the period. Graypoint LLC increased its position in shares of Lululemon Athletica by 5.1% in the first quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock worth $273,000 after acquiring an additional 34 shares in the last quarter. William Allan Corp raised its stake in shares of Lululemon Athletica by 0.8% in the 1st quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock valued at $1,913,000 after acquiring an additional 37 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Lululemon Athletica by 2.1% during the 1st quarter. Bleakley Financial Group LLC now owns 1,889 shares of the apparel retailer’s stock valued at $738,000 after acquiring an additional 38 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Lululemon Athletica by 61.5% during the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 40 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.