Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $302.00 by Analysts at BMO Capital Markets

Lululemon Athletica (NASDAQ:LULU) had its price objective decreased by equities research analysts at BMO Capital Markets from $313.00 to $302.00 in a report issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the apparel retailer’s stock. BMO Capital Markets’ price objective suggests a potential upside of 3.53% from the stock’s current price.

A number of other research firms have also commented on LULU. Truist Financial lifted their target price on shares of Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Stifel Nicolaus reduced their target price on Lululemon Athletica from $438.00 to $424.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company cut their price target on shares of Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $383.66.

Lululemon Athletica Stock Down 14.6 %

LULU traded down $49.83 during trading on Friday, reaching $291.71. 8,302,889 shares of the company’s stock were exchanged, compared to its average volume of 2,125,678. The company has a market capitalization of $35.53 billion, a P/E ratio of 21.06, a PEG ratio of 2.22 and a beta of 1.21. The business has a 50 day moving average price of $366.25 and a 200 day moving average price of $338.67. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the business earned $5.29 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, research analysts forecast that Lululemon Athletica will post 14.36 EPS for the current year.

Hedge Funds Weigh In On Lululemon Athletica

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