Bank of America Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $370.00

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its target price dropped by research analysts at Bank of America from $400.00 to $370.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the apparel retailer's stock. Bank of America's price target indicates a potential upside of 39.48% from the stock's current price.

Several other research firms also recently commented on LULU. Piper Sandler increased their target price on Lululemon Athletica from $280.00 to $315.00 and gave the company a "neutral" rating in a research report on Tuesday. TD Securities upped their target price on Lululemon Athletica from $370.00 to $373.00 and gave the company a "buy" rating in a report on Tuesday. Morgan Stanley decreased their target price on shares of Lululemon Athletica from $373.00 to $346.00 and set an "overweight" rating for the company in a research report on Wednesday, May 28th. Argus lowered shares of Lululemon Athletica from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Finally, Wells Fargo & Company lowered their price target on shares of Lululemon Athletica from $300.00 to $270.00 and set an "equal weight" rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $347.72.

Lululemon Athletica Stock Down 19.8%

Lululemon Athletica stock traded down $65.51 during trading hours on Friday, hitting $265.27. The stock had a trading volume of 16,083,546 shares, compared to its average volume of 2,177,376. The stock has a market cap of $32.00 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 2.22 and a beta of 1.26. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32. The business's 50 day simple moving average is $285.93 and its 200-day simple moving average is $337.88.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, meeting the consensus estimate of $2.60. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $2.54 earnings per share. Research analysts anticipate that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Institutional Trading of Lululemon Athletica

Several hedge funds have recently bought and sold shares of the business. Beacon Capital Management LLC grew its position in Lululemon Athletica by 6.9% in the 4th quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer's stock valued at $142,000 after purchasing an additional 24 shares during the period. Edgestream Partners L.P. grew its position in Lululemon Athletica by 0.7% in the 4th quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer's stock valued at $1,353,000 after purchasing an additional 25 shares during the period. Dnca Finance grew its position in Lululemon Athletica by 15.1% in the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer's stock valued at $76,000 after purchasing an additional 26 shares during the period. Capital Advisors Ltd. LLC grew its position in Lululemon Athletica by 9.4% in the 4th quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer's stock valued at $124,000 after purchasing an additional 28 shares during the period. Finally, LGT Fund Management Co Ltd. grew its position in Lululemon Athletica by 3.3% in the 4th quarter. LGT Fund Management Co Ltd. now owns 930 shares of the apparel retailer's stock valued at $356,000 after purchasing an additional 30 shares during the period. 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.