Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $400.00 by Analysts at Bank of America

Lululemon Athletica (NASDAQ:LULU) had its target price trimmed by Bank of America from $480.00 to $400.00 in a research report released on Friday, MarketBeat.com reports. The firm currently has a buy rating on the apparel retailer’s stock.

Other analysts also recently issued research reports about the company. William Blair reaffirmed an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Barclays lifted their price objective on shares of Lululemon Athletica from $378.00 to $411.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $438.00 target price (up previously from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Citigroup lowered their target price on shares of Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Finally, Morgan Stanley decreased their price objective on shares of Lululemon Athletica from $420.00 to $411.00 and set an “overweight” rating for the company in a report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.72.

Lululemon Athletica Stock Performance

Shares of LULU opened at $293.06 on Friday. The firm has a fifty day moving average of $364.63 and a 200-day moving average of $338.98. The company has a market cap of $35.69 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) 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 analyst estimates of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $5.29 EPS. Analysts predict that Lululemon Athletica will post 14.36 EPS for the current year.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter worth $26,000. Anderson Financial Strategies LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth about $30,000. Kestra Investment Management LLC purchased a new position in Lululemon Athletica during the 4th quarter valued at about $32,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at about $32,000. Finally, Asset Planning Inc purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $33,000. 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.