Lululemon Athletica (NASDAQ:LULU) Given New $420.00 Price Target at BTIG Research

Lululemon Athletica (NASDAQ:LULUGet Rating) had its target price dropped by analysts at BTIG Research from $491.00 to $420.00 in a note issued to investors on Friday, The Fly reports. BTIG Research’s target price would suggest a potential upside of 38.81% from the company’s current price.

A number of other equities analysts also recently commented on LULU. B. Riley reduced their price objective on shares of Lululemon Athletica from $487.00 to $440.00 in a report on Tuesday, May 17th. KGI Securities downgraded shares of Lululemon Athletica from an “outperform” rating to a “neutral” rating in a report on Monday, May 23rd. Morgan Stanley raised shares of Lululemon Athletica from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $339.00 to $303.00 in a report on Thursday, May 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Lululemon Athletica from $428.00 to $423.00 and set a “buy” rating for the company in a report on Thursday, April 21st. Finally, Credit Suisse Group reduced their price objective on shares of Lululemon Athletica from $450.00 to $410.00 in a report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $428.15.

NASDAQ LULU opened at $302.58 on Friday. The firm has a market capitalization of $38.70 billion, a price-to-earnings ratio of 40.34, a P/E/G ratio of 1.55 and a beta of 1.30. The company’s fifty day moving average is $336.93 and its two-hundred day moving average is $352.95. Lululemon Athletica has a 52-week low of $251.51 and a 52-week high of $485.83.

Lululemon Athletica (NASDAQ:LULUGet Rating) last posted its quarterly earnings results on Thursday, June 2nd. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.05. The company had revenue of $1.61 billion for 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%. The business’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. Sell-side analysts forecast that Lululemon Athletica will post 9.34 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 29th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to buy up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors grew its holdings in Lululemon Athletica by 8.1% during the third quarter. Capital World Investors now owns 1,681,814 shares of the apparel retailer’s stock valued at $680,630,000 after purchasing an additional 126,403 shares during the period. Vienna Asset Management LLC bought a new position in Lululemon Athletica in the fourth quarter valued at approximately $117,000. FIL Ltd lifted its stake in Lululemon Athletica by 4.5% in the third quarter. FIL Ltd now owns 123,752 shares of the apparel retailer’s stock valued at $50,082,000 after buying an additional 5,369 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Lululemon Athletica by 8.4% in the third quarter. Neuberger Berman Group LLC now owns 13,848 shares of the apparel retailer’s stock valued at $5,506,000 after buying an additional 1,078 shares in the last quarter. Finally, Cambridge Trust Co. lifted its stake in Lululemon Athletica by 1.4% in the third quarter. Cambridge Trust Co. now owns 41,984 shares of the apparel retailer’s stock valued at $16,991,000 after buying an additional 577 shares in the last quarter. 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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