B. Riley Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $377.00

Lululemon Athletica (NASDAQ:LULU – Get Rating) had its target price lowered by equities researchers at B. Riley from $440.00 to $377.00 in a research note issued to investors on Friday, The Fly reports. B. Riley’s price target suggests a potential upside of 24.60% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Robert W. Baird boosted their price target on shares of Lululemon Athletica from $425.00 to $450.00 in a research note on Wednesday, March 30th. Sanford C. Bernstein assumed coverage on shares of Lululemon Athletica in a research note on Monday, March 14th. They issued an “underperform” rating and a $260.00 target price for the company. MKM Partners upped their target price on shares of Lululemon Athletica from $438.00 to $447.00 in a research note on Wednesday, March 30th. Barclays upped their target price on shares of Lululemon Athletica from $410.00 to $441.00 and gave the stock an “overweight” rating in a research note on Thursday, March 31st. Finally, KGI Securities lowered shares of Lululemon Athletica from an “outperform” rating to a “neutral” rating in a research report on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $428.15.

Shares of LULU stock opened at $302.58 on Friday. The firm has a market capitalization of $38.70 billion, a PE ratio of 40.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30. The firm has a fifty day simple moving average of $336.93 and a two-hundred day simple moving average of $352.95. Lululemon Athletica has a 12 month low of $251.51 and a 12 month high of $485.83.

Lululemon Athletica (NASDAQ:LULU – Get Rating) last announced its quarterly earnings results on Thursday, June 2nd. The apparel retailer reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.55 billion. Lululemon Athletica had a net margin of 15.59% and a return on equity of 37.92%. Lululemon Athletica’s quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. Research analysts anticipate that Lululemon Athletica will post 9.34 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 29th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. grew its holdings in shares of Lululemon Athletica by 192.0% in the fourth quarter. Benjamin Edwards Inc. now owns 73 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 48 shares during the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of Lululemon Athletica in the first quarter worth approximately $29,000. First Community Trust NA bought a new position in shares of Lululemon Athletica in the fourth quarter worth approximately $29,000. Cornerstone Advisory LLC purchased a new stake in Lululemon Athletica in the fourth quarter worth $30,000. Finally, DeDora Capital Inc. purchased a new stake in Lululemon Athletica in the first quarter worth $30,000. Hedge funds and other institutional investors own 85.48% of the company’s stock.

About Lululemon Athletica (Get Rating)

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.

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