Lululemon Athletica (NASDAQ:LULU) Price Target Lowered to $505.00 at Robert W. Baird

Lululemon Athletica (NASDAQ:LULU) had its target price cut by analysts at Robert W. Baird from $555.00 to $505.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the apparel retailer’s stock. Robert W. Baird’s price target would suggest a potential upside of 45.32% from the company’s current price.

Several other equities research analysts also recently commented on the company. Morgan Stanley dropped their target price on Lululemon Athletica from $539.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. HSBC dropped their price objective on Lululemon Athletica from $500.00 to $405.00 in a report on Wednesday, April 10th. Piper Sandler dropped their price objective on Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. BMO Capital Markets lifted their price objective on Lululemon Athletica from $408.00 to $420.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $539.00 price objective (down from $596.00) on shares of Lululemon Athletica in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $483.61.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $347.51 on Friday. The firm has a market capitalization of $43.79 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.22 and a beta of 1.30. Lululemon Athletica has a 1-year low of $326.93 and a 1-year high of $516.39. The business’s 50-day simple moving average is $422.44 and its 200-day simple moving average is $438.62.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data 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. The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.40 EPS. On average, equities research analysts expect that Lululemon Athletica will post 14.15 EPS for the current fiscal year.

Insider Activity

In other news, Director Martha A. M. Morfitt acquired 700 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at approximately $194,645. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently modified their holdings of the stock. Valley National Advisers Inc. lifted its holdings in shares of Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Tidemark LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter valued at $26,000. Milestone Investment Advisors LLC purchased a new stake in shares of Lululemon Athletica during the third quarter valued at $27,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Lululemon Athletica by 270.0% during the third quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. 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.