Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $370.00 by Analysts at Bank of America

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its price target lowered by investment analysts at Bank of America from $400.00 to $370.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the apparel retailer's stock. Bank of America's price target suggests a potential upside of 42.84% from the stock's previous close.

Several other research firms have also recently weighed in on LULU. UBS Group cut their target price on Lululemon Athletica from $330.00 to $290.00 and set a "neutral" rating for the company in a research note on Friday. Robert W. Baird dropped their target price on shares of Lululemon Athletica from $350.00 to $340.00 and set an "outperform" rating for the company in a report on Friday. BMO Capital Markets dropped their target price on shares of Lululemon Athletica from $313.00 to $302.00 and set a "market perform" rating for the company in a report on Friday, March 28th. BTIG Research dropped their target price on shares of Lululemon Athletica from $420.00 to $405.00 and set a "buy" rating for the company in a report on Friday. Finally, KeyCorp dropped their target price on shares of Lululemon Athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $340.26.

Lululemon Athletica Price Performance

LULU traded down $6.23 on Friday, hitting $259.04. 5,377,692 shares of the stock were exchanged, compared to its average volume of 2,182,832. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The business has a 50-day moving average of $285.93 and a two-hundred day moving average of $338.24. The firm has a market capitalization of $31.25 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.22 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, hitting the consensus estimate of $2.60. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the prior year, the business posted $2.54 earnings per share. Lululemon Athletica's revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Lululemon Athletica in the 4th quarter worth about $429,000. DAVENPORT & Co LLC raised its position in shares of Lululemon Athletica by 26.6% in the 4th quarter. DAVENPORT & Co LLC now owns 957 shares of the apparel retailer's stock worth $366,000 after acquiring an additional 201 shares in the last quarter. Mather Group LLC. raised its position in shares of Lululemon Athletica by 21.1% in the 4th quarter. Mather Group LLC. now owns 178 shares of the apparel retailer's stock worth $68,000 after acquiring an additional 31 shares in the last quarter. Robertson Stephens Wealth Management LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at $250,000. Finally, YANKCOM Partnership bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at $98,000. Institutional investors own 85.20% of the company's stock.

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.