Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $430.00 by Analysts at Needham & Company LLC

Lululemon Athletica (NASDAQ:LULU) had its price target decreased by equities researchers at Needham & Company LLC from $475.00 to $430.00 in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. Needham & Company LLC’s target price would indicate a potential upside of 25.90% from the stock’s previous close.

Several other analysts have also recently weighed in on LULU. Telsey Advisory Group restated an “outperform” rating and set a $445.00 price objective on shares of Lululemon Athletica in a research report on Thursday, March 20th. William Blair restated an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Piper Sandler upped their price objective on Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup decreased their price objective on Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lululemon Athletica from $428.00 to $437.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average price target of $395.55.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $341.53 on Wednesday. The firm has a market capitalization of $41.59 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 2.22 and a beta of 1.21. The stock has a fifty day moving average of $366.25 and a 200 day moving average of $338.67. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, topping the consensus estimate of $5.85 by $0.29. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.29 earnings per share. Equities analysts forecast that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in Lululemon Athletica by 95.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock worth $1,854,160,000 after purchasing an additional 2,371,079 shares during the period. Alliancebernstein L.P. grew its stake in shares of Lululemon Athletica by 14.9% in the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock worth $1,681,682,000 after buying an additional 571,657 shares during the last quarter. Geode Capital Management LLC increased its position in Lululemon Athletica by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer’s stock valued at $947,682,000 after buying an additional 10,461 shares in the last quarter. Capital World Investors raised its stake in Lululemon Athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock valued at $827,338,000 after buying an additional 556,406 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Lululemon Athletica by 31.0% in the fourth quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock worth $681,163,000 after acquiring an additional 421,890 shares in the last quarter. 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.