Bank of America Has Lowered Expectations for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price target dropped by stock analysts at Bank of America from $480.00 to $400.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the apparel retailer’s stock. Bank of America‘s price objective indicates a potential upside of 17.12% from the company’s current price.

LULU has been the topic of a number of other research reports. Wells Fargo & Company increased their price objective on Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Jefferies Financial Group reissued an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a report on Monday, December 2nd. Needham & Company LLC lowered their target price on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group boosted their price target on shares of Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Oppenheimer raised their price target on Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $393.45.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $341.53 on Friday. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $423.32. The business’s fifty day moving average is $366.25 and its 200 day moving average is $338.67. The firm has a market cap of $41.59 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $5.29 earnings per share. Equities analysts predict that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fairtree Asset Management Pty Ltd purchased a new stake in shares of Lululemon Athletica during the fourth quarter valued at $497,000. 111 Capital purchased a new stake in shares of Lululemon Athletica during the 4th quarter valued at about $3,362,000. NorthCrest Asset Manangement LLC grew its stake in shares of Lululemon Athletica by 6.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,198 shares of the apparel retailer’s stock worth $458,000 after acquiring an additional 71 shares during the period. PKO Investment Management Joint Stock Co purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at approximately $1,912,000. Finally, Wealthedge Investment Advisors LLC bought a new position in Lululemon Athletica during the fourth quarter valued at approximately $1,257,000. Hedge funds and other 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.