KeyCorp Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $400.00

Lululemon Athletica (NASDAQ:LULU) had its target price decreased by analysts at KeyCorp from $420.00 to $400.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. KeyCorp’s target price would indicate a potential upside of 37.99% from the stock’s previous close.

Several other research analysts have also issued reports on LULU. UBS Group cut their target price on shares of Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating on the stock in a research note on Friday. Guggenheim raised their target price on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Robert W. Baird increased their price target on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, Evercore ISI increased their target price on Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $387.17.

Lululemon Athletica Price Performance

NASDAQ LULU traded down $51.64 during mid-day trading on Friday, reaching $289.89. 4,624,343 shares of the stock were exchanged, compared to its average volume of 2,086,990. The stock has a market cap of $35.30 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.22 and a beta of 1.21. The stock has a 50 day simple moving average of $366.25 and a 200-day simple moving average of $338.67. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the company earned $5.29 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Institutional Trading of Lululemon Athletica

Several hedge funds and other institutional investors have recently bought and sold shares of LULU. Qsemble Capital Management LP bought a new position in shares of Lululemon Athletica during the third quarter valued at about $210,000. D.A. Davidson & CO. raised its holdings in Lululemon Athletica by 13.1% during the 3rd quarter. D.A. Davidson & CO. now owns 3,074 shares of the apparel retailer’s stock valued at $834,000 after buying an additional 356 shares during the last quarter. Townsquare Capital LLC boosted its position in Lululemon Athletica by 47.9% during the 3rd quarter. Townsquare Capital LLC now owns 2,205 shares of the apparel retailer’s stock valued at $598,000 after buying an additional 714 shares during the period. Glenmede Trust Co. NA grew its holdings in Lululemon Athletica by 18.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,614 shares of the apparel retailer’s stock worth $438,000 after acquiring an additional 256 shares during the last quarter. Finally, CreativeOne Wealth LLC purchased a new position in shares of Lululemon Athletica in the third quarter valued at about $274,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

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.