Lululemon Athletica (NASDAQ:LULU) PT Lowered to $324.00 at Wedbush

Lululemon Athletica (NASDAQ:LULU) had its price target decreased by research analysts at Wedbush from $400.00 to $324.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the apparel retailer’s stock. Wedbush’s price target would suggest a potential upside of 22.36% from the stock’s current price.

LULU has been the subject of a number of other reports. TD Securities dropped their price target on Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research report on Thursday, July 25th. Oppenheimer reissued an “outperform” rating and set a $445.00 price objective on shares of Lululemon Athletica in a research report on Thursday, June 6th. Robert W. Baird lowered their target price on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group cut Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $463.00 to $286.00 in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus target price of $375.00.

Lululemon Athletica Stock Down 2.4 %

Shares of NASDAQ LULU traded down $6.39 during trading on Wednesday, hitting $264.79. The company had a trading volume of 414,023 shares, compared to its average volume of 2,072,421. The firm has a market capitalization of $33.10 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. The stock has a fifty day simple moving average of $275.58 and a two-hundred day simple moving average of $343.83. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted 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. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the business earned $2.28 EPS. Lululemon Athletica’s quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts anticipate that Lululemon Athletica will post 14.22 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors have recently bought and sold shares of the stock. Value Star Asset Management Hong Kong Ltd boosted its holdings in shares of Lululemon Athletica by 19,890.3% in the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after purchasing an additional 4,630,466 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Lululemon Athletica by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after acquiring an additional 2,369,119 shares during the last quarter. Norges Bank purchased a new stake in Lululemon Athletica during the fourth quarter valued at about $236,378,000. Marshall Wace LLP raised its holdings in shares of Lululemon Athletica by 359.4% in the 2nd quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer’s stock worth $61,084,000 after purchasing an additional 283,344 shares during the period. Finally, Northern Trust Corp raised its holdings in Lululemon Athletica by 32.7% in the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock valued at $534,815,000 after buying an additional 257,944 shares during the period. 85.20% of the stock is currently owned by hedge funds and other 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.