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

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by KeyCorp from $420.00 to $400.00 in a research note published on Friday morning, Marketbeat reports. They currently have an overweight rating on the apparel retailer’s stock.

LULU has been the topic of several other reports. Evercore ISI upped their price target on shares of Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $360.00 to $460.00 in a research report on Tuesday, January 7th. Citigroup cut their target price on shares of Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Needham & Company LLC lowered their price target on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Piper Sandler cut their price objective on shares of Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $293.06 on Friday. The business has a fifty day moving average of $364.63 and a 200 day moving average of $338.98. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32. The firm has a market capitalization of $35.69 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.85 by $0.29. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $5.29 earnings per share. As a group, equities research analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fairtree Asset Management Pty Ltd acquired a new position in Lululemon Athletica during the fourth quarter worth $497,000. 111 Capital acquired a new position in shares of Lululemon Athletica during the 4th quarter valued at about $3,362,000. NorthCrest Asset Manangement LLC boosted its position in shares of Lululemon Athletica by 6.3% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,198 shares of the apparel retailer’s stock valued at $458,000 after acquiring an additional 71 shares during the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $1,912,000. Finally, Wealthedge Investment Advisors LLC purchased a new position in Lululemon Athletica during the fourth quarter worth about $1,257,000. 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.