Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $490.00 by Analysts at Morgan Stanley

Lululemon Athletica (NASDAQ:LULUFree Report) had its price objective lowered by Morgan Stanley from $539.00 to $490.00 in a research note released on Friday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the apparel retailer’s stock.

A number of other brokerages have also recently issued reports on LULU. Jefferies Financial Group increased their price objective on shares of Lululemon Athletica from $250.00 to $300.00 and gave the stock an underperform rating in a research note on Tuesday, February 13th. KeyCorp raised their target price on shares of Lululemon Athletica from $500.00 to $570.00 and gave the company an overweight rating in a research note on Friday, January 12th. Truist Financial reaffirmed a buy rating and set a $561.00 target price on shares of Lululemon Athletica in a research note on Tuesday. Bank of America raised their target price on shares of Lululemon Athletica from $450.00 to $520.00 and gave the company a buy rating in a research note on Friday, December 8th. Finally, BMO Capital Markets raised their target price on shares of Lululemon Athletica from $408.00 to $420.00 and gave the company a market perform rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $496.59.

View Our Latest Stock Report on LULU

Lululemon Athletica Trading Down 15.8 %

LULU opened at $403.19 on Friday. Lululemon Athletica has a 1-year low of $304.19 and a 1-year high of $516.39. The company has a market capitalization of $50.88 billion, a PE ratio of 51.30, a PEG ratio of 1.63 and a beta of 1.33. The firm’s 50 day simple moving average is $464.64 and its two-hundred day simple moving average is $441.89.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last announced its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a net margin of 10.89% and a return on equity of 44.81%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $4.40 earnings per share. Equities analysts forecast that Lululemon Athletica will post 12.49 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to reacquire up to 1.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in Lululemon Athletica by 21.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,493 shares of the apparel retailer’s stock valued at $7,921,000 after buying an additional 2,688 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Lululemon Athletica by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after purchasing an additional 2,369,119 shares in the last quarter. Wahed Invest LLC grew its position in shares of Lululemon Athletica by 8.7% in the 4th quarter. Wahed Invest LLC now owns 1,898 shares of the apparel retailer’s stock worth $970,000 after buying an additional 152 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $145,000. Finally, SageView Advisory Group LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $888,000. Institutional investors own 91.50% of the company’s stock.

Lululemon Athletica Company Profile

(Get Free Report)

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.

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Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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