Lululemon Athletica (NASDAQ:LULU) Given New $424.00 Price Target at Stifel Nicolaus

Lululemon Athletica (NASDAQ:LULU) had its target price cut by Stifel Nicolaus from $438.00 to $424.00 in a research report sent to investors on Friday, Marketbeat reports. They currently have a buy rating on the apparel retailer’s stock.

Several other equities research analysts also recently issued reports on the company. Sanford C. Bernstein raised Lululemon Athletica from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $360.00 to $460.00 in a research note on Tuesday, January 7th. UBS Group boosted their price target on Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Oppenheimer raised their target price on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays upped their price target on Lululemon Athletica from $378.00 to $411.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their price target on Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $380.72.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $293.06 on Friday. The company has a 50-day simple moving average of $364.63 and a 200-day simple moving average of $338.98. The firm has a market capitalization of $35.69 billion, a P/E ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32.

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

Institutional Trading of Lululemon Athletica

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TCTC Holdings LLC bought a new position in shares of Lululemon Athletica in the fourth quarter valued at approximately $26,000. Anderson Financial Strategies LLC bought a new position in Lululemon Athletica in the 4th quarter valued at $30,000. Kestra Investment Management LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at $32,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Lululemon Athletica in the fourth quarter worth $32,000. Finally, Asset Planning Inc purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth $33,000. 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.