Lululemon Athletica (NASDAQ:LULU) Given New $400.00 Price Target at KeyCorp

Lululemon Athletica (NASDAQ:LULU) had its price target dropped by stock analysts at KeyCorp from $420.00 to $400.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the apparel retailer’s stock. KeyCorp’s price target indicates a potential upside of 36.49% from the stock’s previous close.

Several other brokerages have also weighed in on LULU. Sanford C. Bernstein raised Lululemon Athletica from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $360.00 to $460.00 in a report on Tuesday, January 7th. Evercore ISI boosted their price target on Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Jefferies Financial Group reissued an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research report on Monday, December 2nd. Raymond James reaffirmed a “market perform” rating and issued a $430.00 price objective on shares of Lululemon Athletica in a report on Friday. Finally, Oppenheimer boosted their target price on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Stock Down 14.2 %

Shares of LULU opened at $293.06 on Friday. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $423.32. The firm has a market cap of $35.69 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21. The business’s 50 day moving average is $364.63 and its two-hundred day moving average is $339.62.

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

Institutional Investors Weigh In On Lululemon Athletica

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fairtree Asset Management Pty Ltd bought a new position in Lululemon Athletica in the 4th quarter valued at about $497,000. 111 Capital bought a new position in shares of Lululemon Athletica in the fourth quarter valued at approximately $3,362,000. NorthCrest Asset Manangement LLC increased its stake in shares of Lululemon Athletica by 6.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,198 shares of the apparel retailer’s stock valued at $458,000 after acquiring an additional 71 shares during the period. PKO Investment Management Joint Stock Co bought a new stake in Lululemon Athletica during the fourth quarter worth approximately $1,912,000. Finally, Wealthedge Investment Advisors LLC acquired a new stake in Lululemon Athletica in the fourth quarter worth approximately $1,257,000. 85.20% of the stock is currently owned by institutional investors.

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.