Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $315.00 by Analysts at Wells Fargo & Company

Lululemon Athletica (NASDAQ:LULU) had its price objective cut by Wells Fargo & Company from $375.00 to $315.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.23% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. UBS Group lowered their price target on Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating on the stock in a research note on Friday. Citigroup lowered their price objective on Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft lifted their price target on Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Morgan Stanley dropped their price objective on shares of Lululemon Athletica from $411.00 to $373.00 and set an “overweight” rating for the company in a report on Friday. Finally, Oppenheimer increased their price target on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $387.86.

Lululemon Athletica Price Performance

NASDAQ:LULU traded down $50.47 during trading hours on Friday, hitting $291.06. 3,461,973 shares of the company were exchanged, compared to its average volume of 2,083,349. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $423.32. The company’s 50 day moving average price is $366.25 and its 200-day moving average price is $338.67. The stock has a market capitalization of $35.45 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.85 by $0.29. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the business earned $5.29 earnings per share. On average, equities analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Investors Weigh In On Lululemon Athletica

A number of hedge funds have recently added to or reduced their stakes in LULU. Price T Rowe Associates Inc. MD raised its holdings in shares of Lululemon Athletica by 95.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after buying an additional 2,371,079 shares during the last quarter. Mawer Investment Management Ltd. acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at $523,520,000. Diamond Hill Capital Management Inc. bought a new position in shares of Lululemon Athletica in the fourth quarter valued at $370,062,000. Alliancebernstein L.P. lifted its position in shares of Lululemon Athletica by 14.9% during the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after acquiring an additional 571,657 shares during the last quarter. Finally, Capital World Investors boosted its stake in shares of Lululemon Athletica by 34.6% during the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock worth $827,338,000 after acquiring an additional 556,406 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

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.