Robert W. Baird Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $505.00

Lululemon Athletica (NASDAQ:LULU) had its price objective cut by Robert W. Baird from $555.00 to $505.00 in a report published on Friday, MarketBeat reports. They currently have an outperform rating on the apparel retailer’s stock.

LULU has been the topic of several other reports. Jefferies Financial Group reduced their target price on Lululemon Athletica from $300.00 to $240.00 and set an underperform rating on the stock in a report on Thursday, April 4th. Piper Sandler lowered their target price on Lululemon Athletica from $525.00 to $470.00 and set an overweight rating for the company in a research note on Tuesday, April 9th. Evercore ISI reduced their price target on shares of Lululemon Athletica from $575.00 to $515.00 and set an outperform rating on the stock in a research report on Friday, March 22nd. Sanford C. Bernstein raised their price objective on shares of Lululemon Athletica from $400.00 to $430.00 and gave the company a market perform rating in a research report on Thursday, January 4th. Finally, Raymond James upped their target price on shares of Lululemon Athletica from $495.00 to $520.00 and gave the stock an outperform rating in a research report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of Moderate Buy and a consensus price target of $483.61.

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $352.47 on Friday. The firm has a market capitalization of $44.41 billion, a P/E ratio of 28.87, a P/E/G ratio of 1.25 and a beta of 1.30. The stock has a fifty day moving average price of $420.09 and a two-hundred day moving average price of $439.38. Lululemon Athletica has a 52-week low of $326.93 and a 52-week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results 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 business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the company posted $4.40 EPS. On average, equities research analysts predict that Lululemon Athletica will post 14.15 EPS for the current fiscal year.

Insider Transactions at Lululemon Athletica

In other news, Director Martha A. M. Morfitt acquired 700 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $194,645. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently modified their holdings of the business. Daymark Wealth Partners LLC lifted its stake in Lululemon Athletica by 3.8% in the fourth quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock valued at $293,000 after buying an additional 21 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in Lululemon Athletica by 1.9% in the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after purchasing an additional 22 shares during the period. Pinnacle Financial Partners Inc increased its holdings in Lululemon Athletica by 1.9% during the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock worth $646,000 after purchasing an additional 23 shares in the last quarter. Baker Avenue Asset Management LP raised its stake in shares of Lululemon Athletica by 11.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock valued at $97,000 after purchasing an additional 25 shares during the period. Finally, Sage Mountain Advisors LLC lifted its holdings in shares of Lululemon Athletica by 3.3% in the third quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer’s stock valued at $312,000 after purchasing an additional 26 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

About Lululemon Athletica

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.