Bank of America Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $430.00

Lululemon Athletica (NASDAQ:LULU) had its price target cut by stock analysts at Bank of America from $530.00 to $430.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the apparel retailer’s stock. Bank of America‘s price target would suggest a potential upside of 41.91% from the stock’s current price.

Several other analysts have also recently issued reports on LULU. Guggenheim dropped their target price on Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. TD Cowen dropped their target price on Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $550.00 target price on shares of Lululemon Athletica in a research report on Wednesday. BMO Capital Markets raised their price objective on Lululemon Athletica from $408.00 to $420.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Finally, Sanford C. Bernstein lowered their price objective on Lululemon Athletica from $430.00 to $384.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $465.13.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $303.01 on Thursday. The business’s 50 day moving average price is $363.48 and its 200-day moving average price is $430.65. Lululemon Athletica has a fifty-two week low of $295.28 and a fifty-two week high of $516.39. The company has a market cap of $38.18 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.34 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The firm had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the business posted $4.40 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. Sell-side analysts predict that Lululemon Athletica will post 14.15 earnings per share for the current year.

Insider Activity

In other news, Director Martha A. M. Morfitt bought 700 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were bought at an average price of $389.29 per share, with a total value of $272,503.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Lululemon Athletica

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Lululemon Athletica by 32.3% during the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after purchasing an additional 2,369,119 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Lululemon Athletica by 51,219.6% during the fourth quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock worth $351,868,000 after purchasing an additional 686,855 shares in the last quarter. Norges Bank purchased a new position in Lululemon Athletica in the fourth quarter valued at about $236,378,000. Morgan Stanley increased its holdings in Lululemon Athletica by 29.2% in the third quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock valued at $746,034,000 after buying an additional 437,069 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Lululemon Athletica by 20.0% in the third quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock valued at $719,198,000 after purchasing an additional 310,347 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Company Profile

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.