Lululemon Athletica (NASDAQ:LULU) Given New $424.00 Price Target at Stifel Nicolaus

Lululemon Athletica (NASDAQ:LULU) had its price target cut by Stifel Nicolaus from $438.00 to $424.00 in a report released on Friday, MarketBeat reports. They currently have a buy rating on the apparel retailer’s stock.

Other analysts have also issued reports about the stock. Robert W. Baird increased their price objective on shares of Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Oppenheimer increased their price target on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Bank of America dropped their price objective on Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a report on Friday. Wells Fargo & Company increased their target price on Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Finally, Piper Sandler cut their price target on shares of Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $293.06 on Friday. The firm has a market capitalization of $35.69 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21. The business has a 50 day simple moving average of $364.63 and a 200-day simple moving average of $340.22. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last issued 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. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the company earned $5.29 earnings per share. Lululemon Athletica’s revenue was up 12.3% on a year-over-year basis. As a group, analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

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