Sanford C. Bernstein Trims Lululemon Athletica (NASDAQ:LULU) Target Price to $384.00

Lululemon Athletica (NASDAQ:LULU) had its target price lowered by equities research analysts at Sanford C. Bernstein from $430.00 to $384.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the apparel retailer’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 5.22% from the stock’s current price.

Several other brokerages have also recently commented on LULU. TD Cowen decreased their price objective on shares of Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Telsey Advisory Group reissued an “outperform” rating and issued a $550.00 price objective on shares of Lululemon Athletica in a report on Friday, March 22nd. Raymond James raised their target price on Lululemon Athletica from $495.00 to $520.00 and gave the stock an “outperform” rating in a report on Wednesday, January 10th. Truist Financial decreased their price target on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating for the company in a report on Monday, March 25th. Finally, Guggenheim dropped their price objective on shares of Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $481.96.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU traded up $4.95 during mid-day trading on Friday, hitting $364.95. The stock had a trading volume of 719,943 shares, compared to its average volume of 1,766,471. The firm has a market cap of $45.99 billion, a PE ratio of 29.93, a PEG ratio of 1.29 and a beta of 1.30. The company has a 50 day moving average of $412.27 and a two-hundred day moving average of $438.30. 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 the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the business earned $4.40 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. Equities research analysts predict that Lululemon Athletica will post 14.15 EPS for the current fiscal year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average cost of $389.29 per share, with a total value of $272,503.00. Following the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of Lululemon Athletica

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Lululemon Athletica by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after purchasing an additional 2,369,119 shares during the period. International Assets Investment Management LLC grew its stake in shares of Lululemon Athletica by 51,219.6% in the 4th quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock valued at $351,868,000 after buying an additional 686,855 shares during the period. Norges Bank acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth approximately $236,378,000. Morgan Stanley lifted its holdings in Lululemon Athletica by 29.2% in the third quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock valued at $746,034,000 after acquiring an additional 437,069 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Lululemon Athletica by 20.0% in the third quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock worth $719,198,000 after acquiring an additional 310,347 shares during the period. 85.20% of the stock is owned by institutional investors and hedge funds.

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.