Lululemon Athletica (NASDAQ:LULU) Given New $400.00 Price Target at Bank of America

Lululemon Athletica (NASDAQ:LULU) had its price target lowered by equities research analysts at Bank of America from $480.00 to $400.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the apparel retailer’s stock. Bank of America‘s target price points to a potential upside of 17.12% from the stock’s previous close.

A number of other brokerages also recently weighed in on LULU. Citigroup lowered their target price on shares of Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Barclays boosted their price objective on shares of Lululemon Athletica from $378.00 to $411.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Piper Sandler raised their target price on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their price target on Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, Telsey Advisory Group reduced their target price on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.45.

Lululemon Athletica Stock Up 1.1 %

Shares of LULU stock opened at $341.53 on Friday. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The company’s fifty day simple moving average is $366.25 and its 200-day simple moving average is $338.67. The firm has a market cap of $41.59 billion, a PE ratio of 24.66, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business posted $5.29 EPS. On average, equities analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fairtree Asset Management Pty Ltd acquired a new stake in Lululemon Athletica in the fourth quarter valued at approximately $497,000. 111 Capital bought a new position in Lululemon Athletica in the 4th quarter valued at $3,362,000. NorthCrest Asset Manangement LLC grew its position in Lululemon Athletica by 6.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,198 shares of the apparel retailer’s stock valued at $458,000 after buying an additional 71 shares during the period. PKO Investment Management Joint Stock Co bought a new position in Lululemon Athletica during the fourth quarter valued at $1,912,000. Finally, Wealthedge Investment Advisors LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter valued at $1,257,000. 85.20% of the stock is owned by institutional investors.

About Lululemon Athletica

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.