BTIG Research Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $405.00

BTIG Research has lowered its price target for Lululemon Athletica (NASDAQ:LULU) from $420.00 to $405.00 while maintaining a "buy" rating. This adjustment suggests a potential upside of 53.30% from the stock's previous close. Other analysts have also revised their targets, with Morgan Stanley setting it at $346.00 and Wells Fargo at $300.00. Lululemon's stock recently traded at $264.19, with a market cap of $31.87 billion and a P/E ratio of 19.01. The company reported earnings of $2.60 per share, matching estimates, and a revenue of $2.37 billion for the last quarter.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its target price dropped by analysts at BTIG Research from $420.00 to $405.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the apparel retailer's stock. BTIG Research's price objective points to a potential upside of 53.30% from the stock's previous close.

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LULU has been the topic of a number of other research reports. Morgan Stanley reduced their price target on Lululemon Athletica from $373.00 to $346.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. Wells Fargo & Company reduced their price target on Lululemon Athletica from $315.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. TD Securities increased their price target on Lululemon Athletica from $370.00 to $373.00 and gave the company a "buy" rating in a research report on Tuesday. Stifel Nicolaus reduced their price target on Lululemon Athletica from $424.00 to $353.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Argus cut Lululemon Athletica from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $360.97.

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Lululemon Athletica Price Performance

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Shares of LULU stock traded down $66.59 on Friday, hitting $264.19. The stock had a trading volume of 6,347,227 shares, compared to its average volume of 2,180,956. The firm has a market capitalization of $31.87 billion, a P/E ratio of 19.01, a P/E/G ratio of 2.22 and a beta of 1.26. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32. The company's 50 day moving average price is $286.22 and its 200-day moving average price is $338.13.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, hitting the consensus estimate of $2.60. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.54 EPS. On average, equities analysts forecast that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Trading of Lululemon Athletica

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A number of large investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank bought a new position in shares of Lululemon Athletica in the first quarter valued at approximately $806,000. Anderson Financial Strategies LLC increased its stake in shares of Lululemon Athletica by 242.3% in the first quarter. Anderson Financial Strategies LLC now owns 267 shares of the apparel retailer's stock worth $76,000 after buying an additional 189 shares during the period. Strs Ohio purchased a new position in shares of Lululemon Athletica in the first quarter worth $12,451,000. Mattson Financial Services LLC boosted its holdings in shares of Lululemon Athletica by 20.8% during the 1st quarter. Mattson Financial Services LLC now owns 482 shares of the apparel retailer's stock valued at $136,000 after buying an additional 83 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Lululemon Athletica in the 1st quarter worth about $1,215,000. Hedge funds and other institutional investors own 85.20% of the company's stock.

Lululemon Athletica Company Profile

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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.

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