Wells Fargo & Company Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $315.00

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by research analysts at Wells Fargo & Company from $375.00 to $315.00 in a report released on Friday, MarketBeat reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 25.43% from the stock’s previous close.

LULU has been the topic of several other research reports. TD Cowen increased their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. TD Securities raised their price objective on shares of Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Robert W. Baird upped their price target on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised their target price on Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Finally, Citigroup lowered their price objective on Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Stock Down 11.2 %

Shares of NASDAQ LULU traded down $31.62 during trading on Friday, reaching $251.13. The company had a trading volume of 4,768,731 shares, compared to its average volume of 1,982,713. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The stock has a market cap of $30.58 billion, a P/E ratio of 18.13, a PEG ratio of 2.22 and a beta of 1.21. The company’s fifty day moving average price is $358.96 and its 200-day moving average price is $340.07.

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

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds have recently modified their holdings of LULU. Investment Partners Asset Management Inc. purchased a new position in shares of Lululemon Athletica during the fourth quarter worth $275,000. Rockefeller Capital Management L.P. increased its holdings in Lululemon Athletica by 50.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock worth $28,070,000 after purchasing an additional 34,704 shares during the period. Lebenthal Global Advisors LLC raised its position in Lululemon Athletica by 138.1% in the 4th quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock valued at $1,032,000 after purchasing an additional 1,565 shares in the last quarter. Montag A & Associates Inc. increased its stake in shares of Lululemon Athletica by 495.1% during the fourth quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock worth $1,627,000 after buying an additional 3,540 shares during the period. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Lululemon Athletica in the fourth quarter valued at approximately $17,775,000. 85.20% of the stock is currently 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.