Needham & Company LLC Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its target price reduced by Needham & Company LLC from $366.00 to $317.00 in a report released on Friday morning, MarketBeat reports. They currently have a buy rating on the apparel retailer’s stock.

A number of other equities research analysts also recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Lululemon Athletica from $315.00 to $300.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. Barclays cut their target price on shares of Lululemon Athletica from $309.00 to $276.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. Bank of America lowered their price target on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a report on Friday, March 28th. UBS Group cut their price objective on Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating on the stock in a report on Friday, March 28th. Finally, Truist Financial dropped their target price on Lululemon Athletica from $380.00 to $297.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $344.96.

Lululemon Athletica Stock Down 19.8%

Shares of Lululemon Athletica stock opened at $265.27 on Friday. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $423.32. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.22 and a beta of 1.26. The firm’s 50-day moving average price is $285.93 and its two-hundred day moving average price is $338.24.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.60. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $2.54 earnings per share. On average, sell-side analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Investors Weigh In On Lululemon Athletica

Several large investors have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC acquired a new stake in shares of Lululemon Athletica during the 1st quarter worth approximately $25,000. TCTC Holdings LLC bought a new stake in Lululemon Athletica in the fourth quarter valued at $26,000. Cornerstone Planning Group LLC increased its stake in Lululemon Athletica by 506.3% in the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Lululemon Athletica during the first quarter valued at about $29,000. Finally, Anderson Financial Strategies LLC bought a new position in shares of Lululemon Athletica during the 4th quarter worth about $30,000. Institutional investors and hedge funds 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.