Lululemon Athletica (NASDAQ:LULU) Price Target Lowered to $350.00 at Guggenheim

Lululemon Athletica (NASDAQ:LULU) had its price target trimmed by Guggenheim from $525.00 to $350.00 in a report published on Friday, BayStreet.CA reports. The brokerage currently has a buy rating on the apparel retailer’s stock.

Several other equities research analysts also recently weighed in on the stock. Wedbush reduced their target price on shares of Lululemon Athletica from $400.00 to $324.00 and set an outperform rating on the stock in a research note on Wednesday. Morgan Stanley reduced their target price on shares of Lululemon Athletica from $404.00 to $329.00 and set an overweight rating on the stock in a research note on Monday, August 26th. BTIG Research started coverage on shares of Lululemon Athletica in a report on Wednesday, May 8th. They issued a buy rating and a $425.00 price target on the stock. TD Cowen cut their price target on shares of Lululemon Athletica from $420.00 to $375.00 and set a buy rating on the stock in a report on Tuesday. Finally, Sanford C. Bernstein upped their price target on shares of Lululemon Athletica from $376.00 to $382.00 and gave the stock a market perform rating in a report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $355.84.

Lululemon Athletica Trading Up 0.2 %

Shares of LULU opened at $259.47 on Friday. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $516.39. The company has a market cap of $32.43 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.25 and a beta of 1.26. The company’s fifty day simple moving average is $272.61 and its 200-day simple moving average is $341.27.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.23. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts predict that Lululemon Athletica will post 14.22 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has approved a stock buyback plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Lululemon Athletica

Several hedge funds have recently modified their holdings of LULU. Choreo LLC lifted its position in shares of Lululemon Athletica by 24.5% during the fourth quarter. Choreo LLC now owns 803 shares of the apparel retailer’s stock valued at $411,000 after buying an additional 158 shares during the last quarter. Brighton Jones LLC raised its position in shares of Lululemon Athletica by 13.5% in the 4th quarter. Brighton Jones LLC now owns 731 shares of the apparel retailer’s stock valued at $374,000 after purchasing an additional 87 shares during the last quarter. Savant Capital LLC raised its position in shares of Lululemon Athletica by 18.1% in the 4th quarter. Savant Capital LLC now owns 888 shares of the apparel retailer’s stock valued at $454,000 after purchasing an additional 136 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of Lululemon Athletica by 965.1% in the 4th quarter. New York Life Investment Management LLC now owns 17,905 shares of the apparel retailer’s stock valued at $9,155,000 after purchasing an additional 16,224 shares during the last quarter. Finally, Great Valley Advisor Group Inc. raised its position in shares of Lululemon Athletica by 46.6% in the 4th quarter. Great Valley Advisor Group Inc. now owns 3,670 shares of the apparel retailer’s stock valued at $1,876,000 after purchasing an additional 1,166 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other 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.