Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $410.00 by Analysts at Credit Suisse Group

Lululemon Athletica (NASDAQ:LULUGet Rating) had its target price cut by equities research analysts at Credit Suisse Group from $450.00 to $410.00 in a research report issued on Friday, The Fly reports. Credit Suisse Group’s target price indicates a potential upside of 35.50% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. B. Riley cut their price target on Lululemon Athletica from $487.00 to $440.00 in a report on Tuesday, May 17th. Truist Financial raised Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their price target for the company from $390.00 to $495.00 in a report on Tuesday, April 19th. Cowen cut their price target on Lululemon Athletica from $507.00 to $497.00 in a report on Thursday, April 21st. Cowen lowered their price objective on shares of Lululemon Athletica from $507.00 to $497.00 in a research note on Thursday, April 21st. Finally, Barclays raised their price objective on shares of Lululemon Athletica from $410.00 to $441.00 and gave the company an “overweight” rating in a research note on Thursday, March 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica has an average rating of “Buy” and an average target price of $428.15.

NASDAQ:LULU opened at $302.58 on Friday. The stock has a 50-day simple moving average of $336.93 and a 200 day simple moving average of $352.95. Lululemon Athletica has a one year low of $251.51 and a one year high of $485.83. The company has a market capitalization of $38.70 billion, a price-to-earnings ratio of 40.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULUGet Rating) last issued its earnings results on Thursday, June 2nd. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. Lululemon Athletica had a net margin of 15.59% and a return on equity of 37.92%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the company posted $1.16 earnings per share. Lululemon Athletica’s revenue was up 31.6% on a year-over-year basis. As a group, analysts expect that Lululemon Athletica will post 9.34 earnings per share for the current fiscal year.

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

A number of hedge funds have recently made changes to their positions in the business. Voya Financial Advisors Inc. lifted its stake in Lululemon Athletica by 1.9% in the third quarter. Voya Financial Advisors Inc. now owns 1,428 shares of the apparel retailer’s stock valued at $586,000 after acquiring an additional 26 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Lululemon Athletica by 10.7% during the 1st quarter. Lindbrook Capital LLC now owns 268 shares of the apparel retailer’s stock worth $98,000 after buying an additional 26 shares during the last quarter. Clearstead Advisors LLC lifted its stake in shares of Lululemon Athletica by 3.7% during the 1st quarter. Clearstead Advisors LLC now owns 838 shares of the apparel retailer’s stock worth $306,000 after buying an additional 30 shares during the last quarter. CAPROCK Group Inc. lifted its stake in shares of Lululemon Athletica by 5.6% during the 4th quarter. CAPROCK Group Inc. now owns 604 shares of the apparel retailer’s stock worth $236,000 after buying an additional 32 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in shares of Lululemon Athletica by 0.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,487 shares of the apparel retailer’s stock worth $1,756,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.

Lululemon Athletica Company Profile (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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