Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $405.00 by Analysts at BTIG Research

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its target price decreased by BTIG Research from $420.00 to $405.00 in a report released on Friday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the apparel retailer's stock. BTIG Research's target price would indicate a potential upside of 52.67% from the company's previous close.

A number of other brokerages have also recently issued reports on LULU. Stifel Nicolaus dropped their target price on shares of Lululemon Athletica from $424.00 to $353.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group dropped their target price on shares of Lululemon Athletica from $363.00 to $302.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. KeyCorp lowered their price target on shares of Lululemon Athletica from $400.00 to $350.00 and set an "overweight" rating on the stock in a report on Friday. Robert W. Baird lowered their price target on shares of Lululemon Athletica from $450.00 to $370.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Finally, Needham & Company LLC lowered their price target on shares of Lululemon Athletica from $366.00 to $317.00 and set a "buy" rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Lululemon Athletica currently has an average rating of "Moderate Buy" and a consensus price target of $347.72.

Lululemon Athletica Price Performance

NASDAQ:LULU traded down $65.51 on Friday, hitting $265.27. 16,083,546 shares of the company's stock were exchanged, compared to its average volume of 2,176,894. The firm has a 50-day moving average price of $286.22 and a 200-day moving average price of $338.13. The company has a market cap of $32.00 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results 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 company 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%. Lululemon Athletica's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 EPS. On average, research analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds have recently modified their holdings of LULU. Price T Rowe Associates Inc. MD lifted its holdings in shares of Lululemon Athletica by 95.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer's stock worth $1,854,160,000 after buying an additional 2,371,079 shares in the last quarter. Mawer Investment Management Ltd. purchased a new stake in Lululemon Athletica during the fourth quarter valued at $523,520,000. Diamond Hill Capital Management Inc. purchased a new stake in Lululemon Athletica during the fourth quarter valued at $370,062,000. Alliancebernstein L.P. raised its stake in Lululemon Athletica by 14.9% during the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer's stock valued at $1,681,682,000 after purchasing an additional 571,657 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Lululemon Athletica by 37,062.1% during the first quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer's stock valued at $159,364,000 after purchasing an additional 561,491 shares in the last quarter. Hedge funds and other 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.