Needham & Company LLC Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $430.00

Lululemon Athletica (NASDAQ:LULU) had its price objective trimmed by Needham & Company LLC from $475.00 to $430.00 in a research report released on Wednesday morning, MarketBeat reports. The firm currently has a buy rating on the apparel retailer’s stock.

A number of other research analysts also recently commented on LULU. UBS Group boosted their price objective on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group reissued an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a research report on Monday, December 2nd. Guggenheim raised their price target on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $438.00 target price (up from $370.00) on shares of Lululemon Athletica in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $293.06 on Wednesday. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32. The firm’s 50 day moving average price is $364.63 and its two-hundred day moving average price is $338.98. The firm has a market cap of $35.69 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

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

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds and other institutional investors have recently made changes to their positions in LULU. Investment Partners Asset Management Inc. bought a new position in Lululemon Athletica during the 4th quarter worth about $275,000. Rockefeller Capital Management L.P. lifted its stake in Lululemon Athletica by 50.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after acquiring an additional 34,704 shares in the last quarter. Lebenthal Global Advisors LLC boosted its position in Lululemon Athletica by 138.1% during the 4th quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock worth $1,032,000 after acquiring an additional 1,565 shares during the last quarter. Montag A & Associates Inc. raised its holdings in shares of Lululemon Athletica by 495.1% in the fourth quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock valued at $1,627,000 after purchasing an additional 3,540 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of Lululemon Athletica in the fourth quarter worth $17,775,000. 85.20% of the stock is owned by institutional investors.

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.