Oppenheimer Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by research analysts at Oppenheimer from $445.00 to $380.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the apparel retailer’s stock. Oppenheimer’s price target indicates a potential upside of 18.93% from the stock’s previous close.

LULU has been the topic of a number of other research reports. Wells Fargo & Company cut their target price on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Bank of America lowered their price objective on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Barclays reduced their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. TD Securities lifted their price objective on shares of Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Morgan Stanley raised their price target on shares of Lululemon Athletica from $314.00 to $345.00 and gave the company an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $356.03.

Lululemon Athletica Trading Up 0.2 %

Shares of NASDAQ LULU opened at $319.52 on Wednesday. The company has a market capitalization of $39.23 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 2.38 and a beta of 1.24. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $516.39. The business has a 50 day simple moving average of $296.03 and a 200-day simple moving average of $288.06.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the company earned $2.68 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts predict that Lululemon Athletica will post 14.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its stake in shares of Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after acquiring an additional 43 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Lululemon Athletica by 61.5% during the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 40 shares in the last quarter. Paladin Wealth LLC acquired a new stake in shares of Lululemon Athletica during the 3rd quarter valued at about $29,000. Ridgewood Investments LLC bought a new stake in shares of Lululemon Athletica in the 2nd quarter valued at approximately $33,000. Finally, Dnca Finance acquired a new position in Lululemon Athletica in the second quarter worth approximately $34,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Company Profile

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.