Lululemon Athletica (NASDAQ:LULU) Given New $373.00 Price Target at Morgan Stanley

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by Morgan Stanley from $411.00 to $373.00 in a research note issued to investors on Friday,Benzinga reports. Morgan Stanley currently has an overweight rating on the apparel retailer’s stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company raised their price target on shares of Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. TD Cowen boosted their price target on shares of Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Evercore ISI increased their price objective on Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Piper Sandler reduced their price objective on Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Barclays raised their price target on Lululemon Athletica from $378.00 to $411.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $380.72.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $293.06 on Friday. The firm’s 50 day moving average price is $364.63 and its two-hundred day moving average price is $338.98. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $423.32. The stock has a market cap of $35.69 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share 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 firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the firm earned $5.29 earnings per share. Lululemon Athletica’s quarterly revenue was up 12.3% on a year-over-year basis. On average, research analysts forecast that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LULU. Price T Rowe Associates Inc. MD grew its position in shares of Lululemon Athletica by 95.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after purchasing an additional 2,371,079 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Lululemon Athletica by 14.9% in the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after acquiring an additional 571,657 shares in the last quarter. Geode Capital Management LLC grew its stake in Lululemon Athletica by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer’s stock valued at $947,682,000 after purchasing an additional 10,461 shares in the last quarter. Capital World Investors increased its holdings in Lululemon Athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock worth $827,338,000 after buying an additional 556,406 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Lululemon Athletica by 31.0% during the 4th quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock worth $681,163,000 after purchasing an additional 421,890 shares during the last quarter. 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.