Morgan Stanley Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $373.00

Lululemon Athletica (NASDAQ:LULU) had its price target decreased by Morgan Stanley from $411.00 to $373.00 in a report released on Friday,Benzinga reports. Morgan Stanley currently has an overweight rating on the apparel retailer’s stock.

Several other brokerages have also commented on LULU. Piper Sandler cut their target price on Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday. 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 report on Friday. Jefferies Financial Group reiterated an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research report on Monday, December 2nd. Raymond James restated a “market perform” rating and issued a $430.00 price target on shares of Lululemon Athletica in a report on Friday. Finally, BMO Capital Markets upped their price objective on shares of Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $293.06 on Friday. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32. The company has a 50 day simple moving average of $364.63 and a two-hundred day simple moving average of $340.22. The company has a market capitalization of $35.69 billion, a PE ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping 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 net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $5.29 earnings per share. Research analysts predict that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TCTC Holdings LLC bought a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $26,000. Anderson Financial Strategies LLC bought a new stake in Lululemon Athletica during the fourth quarter worth $30,000. Kestra Investment Management LLC bought a new stake in Lululemon Athletica during the fourth quarter worth $32,000. Bradley & Co. Private Wealth Management LLC bought a new position in Lululemon Athletica in the 4th quarter valued at $32,000. Finally, Asset Planning Inc purchased a new stake in shares of Lululemon Athletica during the 4th quarter valued at $33,000. 85.20% of the stock is currently owned by hedge funds and other 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.