Raymond James Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $350.00

Lululemon Athletica (NASDAQ:LULU) had its price target decreased by equities research analysts at Raymond James from $400.00 to $350.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the apparel retailer’s stock. Raymond James’ target price would indicate a potential upside of 35.22% from the company’s current price.

Several other analysts have also recently commented on LULU. Morgan Stanley dropped their price target on Lululemon Athletica from $404.00 to $329.00 and set an “overweight” rating for the company in a research report on Monday. Jefferies Financial Group restated an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research report on Thursday, July 25th. Bank of America increased their price objective on shares of Lululemon Athletica from $430.00 to $440.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Telsey Advisory Group lowered their target price on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday. Finally, BTIG Research started coverage on Lululemon Athletica in a report on Wednesday, May 8th. They issued a “buy” rating and a $425.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.00.

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $258.83 on Tuesday. The stock has a market capitalization of $32.35 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. The business has a 50 day simple moving average of $274.73 and a 200-day simple moving average of $342.43. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.28 earnings per share. On average, equities research analysts anticipate that Lululemon Athletica will post 14.22 EPS for the current fiscal year.

Lululemon Athletica declared that its board has initiated a stock repurchase program 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 programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors have recently added to or reduced their stakes in LULU. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $1,114,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Lululemon Athletica by 31.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after purchasing an additional 3,721 shares during the period. Brookstone Capital Management increased its holdings in shares of Lululemon Athletica by 202.8% in the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock valued at $670,000 after purchasing an additional 1,148 shares in the last quarter. Gateway Investment Advisers LLC lifted its stake in shares of Lululemon Athletica by 9.7% in the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after purchasing an additional 3,077 shares during the period. Finally, Advisory Services Network LLC boosted its holdings in Lululemon Athletica by 6.0% during the fourth quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,874,000 after buying an additional 319 shares in the last quarter. Hedge funds and other institutional investors 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.