Stifel Nicolaus Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $424.00

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by Stifel Nicolaus from $438.00 to $424.00 in a research note published on Friday, Marketbeat Ratings reports. Stifel Nicolaus currently has a buy rating on the apparel retailer’s stock.

LULU has been the subject of several other research reports. Truist Financial lifted their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Citigroup reduced their price target on shares of Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Morgan Stanley lowered their price objective on shares of Lululemon Athletica from $411.00 to $373.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen boosted their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a research report on Thursday, December 5th. Finally, UBS Group increased their price target on shares of Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Stock Down 14.2 %

Shares of NASDAQ LULU opened at $293.06 on Friday. The firm’s 50-day moving average price is $364.63 and its 200-day moving average price is $340.22. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $423.32. The company has a market cap of $35.69 billion, a PE ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the firm earned $5.29 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds and other institutional investors have recently modified their holdings of LULU. TCTC Holdings LLC bought a new position in shares of Lululemon Athletica during the 4th quarter valued at about $26,000. Anderson Financial Strategies LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth about $30,000. Kestra Investment Management LLC bought a new position 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 during the 4th quarter valued at approximately $32,000. Finally, Sound Income Strategies LLC increased its stake in Lululemon Athletica by 309.5% in the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

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.