Morgan Stanley Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $411.00

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by Morgan Stanley from $420.00 to $411.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. Morgan Stanley currently has an overweight rating on the apparel retailer’s stock.

A number of other analysts have also recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $438.00 target price (up from $370.00) on shares of Lululemon Athletica in a research note on Friday, December 6th. Guggenheim lifted their price objective on shares of Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Needham & Company LLC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price objective for the company in a research note on Friday, January 10th. William Blair restated an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Finally, Sanford C. Bernstein upgraded shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $360.00 to $460.00 in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.83.

Lululemon Athletica Stock Up 2.0 %

LULU stock opened at $329.57 on Wednesday. The firm has a 50 day moving average of $372.75 and a 200 day moving average of $336.02. The stock has a market capitalization of $40.14 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $480.94.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Hedge funds have recently modified their holdings of the business. TCTC Holdings LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Anderson Financial Strategies LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $30,000. Kestra Investment Management LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $32,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Lululemon Athletica during the fourth quarter worth about $32,000. Finally, Sound Income Strategies LLC increased its position in Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 65 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.