Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $420.00 by Analysts at BTIG Research

Lululemon Athletica (NASDAQ:LULU) had its target price reduced by stock analysts at BTIG Research from $470.00 to $420.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the apparel retailer’s stock. BTIG Research’s price objective would suggest a potential upside of 43.32% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC dropped their target price on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating for the company in a report on Wednesday. Barclays cut their target price on shares of Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating on the stock in a research report on Friday. TD Securities upped their price target 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. Piper Sandler cut their price objective on Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Raymond James restated a “market perform” rating and set a $430.00 price objective on shares of Lululemon Athletica in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Trading Down 14.2 %

Shares of NASDAQ:LULU opened at $293.06 on Friday. The firm has a 50 day moving average of $364.63 and a 200-day moving average of $339.62. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The stock has a market capitalization of $35.69 billion, a PE ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating the consensus estimate of $5.85 by $0.29. The business 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% on a year-over-year basis. During the same period in the previous year, the business earned $5.29 earnings per share. On average, research analysts predict that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently bought and sold shares of LULU. Beacon Capital Management LLC boosted its position in shares of Lululemon Athletica by 6.9% during the 4th quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer’s stock worth $142,000 after purchasing an additional 24 shares in the last quarter. Edgestream Partners L.P. increased its holdings in shares of Lululemon Athletica by 0.7% during the fourth quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer’s stock valued at $1,353,000 after acquiring an additional 25 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Lululemon Athletica by 2.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock worth $389,000 after purchasing an additional 26 shares in the last quarter. Dnca Finance increased its stake in Lululemon Athletica by 15.1% during the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer’s stock valued at $76,000 after purchasing an additional 26 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in Lululemon Athletica by 9.4% during the fourth quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer’s stock worth $124,000 after buying an additional 28 shares during the last quarter. 85.20% of the stock is 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.