BTIG Research Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $420.00

Lululemon Athletica (NASDAQ:LULU) had its target price cut by BTIG Research from $470.00 to $420.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. BTIG Research’s target price suggests a potential upside of 44.43% from the company’s current price.

LULU has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating for the company in a research note on Friday. BMO Capital Markets lowered their price objective on Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating on the stock in a research report on Friday. Telsey Advisory Group decreased their target price on shares of Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating on the stock in a research report on Friday. Guggenheim lifted their target price on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company dropped their target price on Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Stock Down 14.9 %

NASDAQ:LULU traded down $50.73 during trading hours on Friday, reaching $290.80. 9,836,341 shares of the company’s stock were exchanged, compared to its average volume of 2,131,810. The company has a market capitalization of $35.41 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The business’s 50-day simple moving average is $366.25 and its two-hundred day simple moving average is $338.67.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, topping the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the firm posted $5.29 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Trading of Lululemon Athletica

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Investment Partners Asset Management Inc. acquired a new position in shares of Lululemon Athletica during the fourth quarter worth $275,000. Rockefeller Capital Management L.P. lifted its position in shares of Lululemon Athletica by 50.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock worth $28,070,000 after buying an additional 34,704 shares during the last quarter. Lebenthal Global Advisors LLC raised its position in Lululemon Athletica by 138.1% during the 4th quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock worth $1,032,000 after buying an additional 1,565 shares during the last quarter. Montag A & Associates Inc. increased its stake in Lululemon Athletica by 495.1% in the 4th quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock valued at $1,627,000 after purchasing an additional 3,540 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth about $17,775,000. 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.