Lululemon Athletica (NASDAQ:LULU) PT Lowered to $470.00

Lululemon Athletica (NASDAQ:LULU) had its target price decreased by analysts at Robert W. Baird from $505.00 to $470.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the apparel retailer’s stock. Robert W. Baird’s price target suggests a potential upside of 55.80% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group reduced their target price on shares of Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating on the stock in a report on Thursday, April 4th. Wells Fargo & Company dropped their price target on shares of Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating for the company in a research report on Thursday, June 6th. Oppenheimer reissued an “outperform” rating and set a $445.00 price target on shares of Lululemon Athletica in a research report on Thursday, June 6th. Barclays dropped their price target on shares of Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating for the company in a research report on Thursday, June 6th. Finally, HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and increased their price target for the company from $405.00 to $425.00 in a research report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $431.94.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $301.67 on Wednesday. The company’s fifty day moving average price is $325.88 and its 200-day moving average price is $405.51. The firm has a market capitalization of $37.71 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.49 and a beta of 1.26. Lululemon Athletica has a one year low of $293.03 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, beating the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm earned $2.28 EPS. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts expect that Lululemon Athletica will post 14.29 EPS for the current year.

Lululemon Athletica announced that its board has authorized a share repurchase plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Lululemon Athletica

Institutional investors and hedge funds have recently bought and sold shares of the company. Valley National Advisers Inc. grew its stake in shares of Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Tidemark LLC purchased a new position in shares of Lululemon Athletica in the fourth quarter worth $26,000. Scarborough Advisors LLC purchased a new position in shares of Lululemon Athletica in the fourth quarter worth $26,000. Benjamin Edwards Inc. lifted its holdings in shares of 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. Finally, Riverview Trust Co purchased a new position in shares of Lululemon Athletica in the first quarter worth $29,000. 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.