Lululemon Athletica (NASDAQ:LULU) PT Lowered to $350.00

Lululemon Athletica (NASDAQ:LULU) had its target price reduced by analysts at KeyCorp from $415.00 to $350.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. KeyCorp’s target price would indicate a potential upside of 34.89% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Citigroup decreased their price target on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Raymond James decreased their target price on shares of Lululemon Athletica from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. UBS Group cut their price target on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Barclays decreased their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Sanford C. Bernstein lifted their price objective on Lululemon Athletica from $376.00 to $382.00 and gave the company a “market perform” rating in a research note on Friday, June 7th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $355.84.

Lululemon Athletica Stock Up 0.2 %

NASDAQ LULU opened at $259.47 on Friday. The company’s 50 day moving average is $271.56 and its 200-day moving average is $339.84. The firm has a market cap of $32.43 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.68 earnings per share. Equities analysts expect that Lululemon Athletica will post 14.22 EPS for the current year.

Lululemon Athletica declared that its board has initiated a share repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Lululemon Athletica

Hedge funds and other institutional investors have recently modified their holdings of the company. Brown Financial Advisors bought a new position in shares of Lululemon Athletica during the second quarter valued at approximately $260,000. KPP Advisory Services LLC bought a new position in Lululemon Athletica in the 2nd quarter worth $517,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Lululemon Athletica by 8.5% in the 2nd 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 during the period. Quarry LP boosted its stake in shares of Lululemon Athletica by 285.9% during the 2nd quarter. Quarry LP now owns 355 shares of the apparel retailer’s stock valued at $106,000 after purchasing an additional 263 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of Lululemon Athletica by 9.0% during the second quarter. Sunbelt Securities Inc. now owns 908 shares of the apparel retailer’s stock valued at $271,000 after buying an additional 75 shares during the period. 85.20% of the stock is owned by institutional investors.

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.