Stifel Nicolaus Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $324.00

Lululemon Athletica (NASDAQ:LULU) had its price target cut by Stifel Nicolaus from $353.00 to $324.00 in a report published on Friday,BayStreet.CA reports. They currently have a buy rating on the apparel retailer’s stock.

Several other equities analysts have also recently issued reports on LULU. BMO Capital Markets lowered their price objective on shares of Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating on the stock in a research note on Friday, March 28th. TD Securities lifted their price objective on shares of Lululemon Athletica from $370.00 to $373.00 and gave the stock a “buy” rating in a research note on Tuesday. Needham & Company LLC lowered their price objective on shares of Lululemon Athletica from $366.00 to $317.00 and set a “buy” rating on the stock in a research note on Friday. Truist Financial dropped their target price on shares of Lululemon Athletica from $297.00 to $290.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Morgan Stanley dropped their target price on shares of Lululemon Athletica from $373.00 to $346.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus target price of $344.96.

Lululemon Athletica Trading Down 19.8%

LULU stock opened at $265.27 on Friday. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. The firm’s 50-day moving average is $285.93 and its two-hundred day moving average is $337.88.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, hitting analysts’ consensus estimates of $2.60. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 EPS. On average, equities research analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Investment Partners Asset Management Inc. acquired a new position in Lululemon Athletica during the 4th quarter valued at about $275,000. Nutshell Asset Management Ltd acquired a new position in Lululemon Athletica during the 4th quarter valued at about $956,000. Montag A & Associates Inc. lifted its position in Lululemon Athletica by 495.1% during the 4th quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock valued at $1,627,000 after purchasing an additional 3,540 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in Lululemon Athletica during the 4th quarter valued at about $17,775,000. Finally, Northeast Investment Management acquired a new position in Lululemon Athletica during the 4th quarter valued at about $276,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.