Lululemon Athletica (NASDAQ:LULU) Given New $300.00 Price Target at Evercore ISI

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by Evercore ISI from $400.00 to $300.00 in a report released on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the apparel retailer’s stock.

Several other equities research analysts have also commented on LULU. BTIG Research initiated coverage on shares of Lululemon Athletica in a report on Wednesday, May 8th. They issued a buy rating and a $425.00 price target for the company. Telsey Advisory Group reduced their price objective on shares of Lululemon Athletica from $550.00 to $470.00 and set an outperform rating for the company in a research note on Thursday, June 6th. UBS Group dropped their target price on Lululemon Athletica from $475.00 to $385.00 and set a neutral rating on the stock in a research report on Wednesday, May 22nd. Wedbush upped their price objective on Lululemon Athletica from $397.00 to $400.00 and gave the stock an outperform rating in a research note on Thursday, June 6th. Finally, Sanford C. Bernstein lifted their target price on Lululemon Athletica from $376.00 to $382.00 and gave the company a market perform rating in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica has a consensus rating of Moderate Buy and an average price target of $416.26.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $253.50 on Friday. The firm’s 50 day simple moving average is $300.18 and its 200-day simple moving average is $378.08. Lululemon Athletica has a one year low of $245.59 and a one year high of $516.39. The firm has a market cap of $31.69 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping the consensus estimate of $2.38 by $0.16. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. Lululemon Athletica’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the business posted $2.28 EPS. Equities research analysts predict that Lululemon Athletica will post 14.29 EPS for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has initiated a share buyback program on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LULU. Valley National Advisers Inc. raised its holdings in Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 42 shares during the period. Tidemark LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $26,000. Benjamin Edwards Inc. lifted its position in shares of Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 44 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in Lululemon Athletica in the 1st quarter valued at $29,000. 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.