Lululemon Athletica (NASDAQ:LULU) Given New $505.00 Price Target at Robert W. Baird

Lululemon Athletica (NASDAQ:LULU) had its target price decreased by Robert W. Baird from $555.00 to $505.00 in a research note released on Friday morning, MarketBeat reports. Robert W. Baird currently has an outperform rating on the apparel retailer’s stock.

A number of other analysts have also recently issued reports on the company. Guggenheim cut their price objective on Lululemon Athletica from $550.00 to $525.00 and set a buy rating for the company in a research report on Friday, March 22nd. Evercore ISI cut their price objective on Lululemon Athletica from $575.00 to $515.00 and set an outperform rating for the company in a research report on Friday, March 22nd. Telsey Advisory Group reaffirmed an outperform rating and issued a $550.00 price objective on shares of Lululemon Athletica in a research report on Friday, March 22nd. Truist Financial cut their price objective on Lululemon Athletica from $561.00 to $498.00 and set a buy rating for the company in a research report on Monday, March 25th. Finally, Wedbush cut their price objective on Lululemon Athletica from $548.00 to $492.00 and set an outperform rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica has a consensus rating of Moderate Buy and a consensus target price of $483.61.

Lululemon Athletica Stock Up 1.4 %

LULU stock opened at $352.47 on Friday. The business has a 50 day moving average price of $420.09 and a two-hundred day moving average price of $438.41. The company has a market cap of $44.41 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 1.23 and a beta of 1.30. Lululemon Athletica has a twelve month low of $326.93 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company earned $4.40 earnings per share. On average, equities research analysts anticipate that Lululemon Athletica will post 14.15 EPS for the current fiscal year.

Insider Activity

In other Lululemon Athletica news, Director Martha A. M. Morfitt purchased 700 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were bought at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the purchase, the director now owns 500 shares in the company, valued at approximately $194,645. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently modified their holdings of LULU. MetLife Investment Management LLC bought a new position in shares of Lululemon Athletica in the 1st quarter valued at $2,696,000. Panagora Asset Management Inc. grew its position in Lululemon Athletica by 48.4% during the 1st quarter. Panagora Asset Management Inc. now owns 1,647 shares of the apparel retailer’s stock worth $602,000 after acquiring an additional 537 shares during the last quarter. Yousif Capital Management LLC grew its position in Lululemon Athletica by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 4,022 shares of the apparel retailer’s stock worth $1,469,000 after acquiring an additional 100 shares during the last quarter. Raymond James Trust N.A. grew its position in Lululemon Athletica by 6.5% during the 1st quarter. Raymond James Trust N.A. now owns 1,251 shares of the apparel retailer’s stock worth $457,000 after acquiring an additional 76 shares during the last quarter. Finally, Prudential PLC bought a new stake in Lululemon Athletica during the 1st quarter worth $774,000. 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.