Lululemon Athletica (NASDAQ:LULU) Given New $346.00 Price Target at Morgan Stanley

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its price objective reduced by analysts at Morgan Stanley from $373.00 to $346.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the apparel retailer's stock. Morgan Stanley's target price points to a potential upside of 8.65% from the company's previous close.

LULU has been the topic of several other research reports. Truist Financial lowered their price target on shares of Lululemon Athletica from $380.00 to $297.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler cut their price objective on shares of Lululemon Athletica from $315.00 to $280.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Cfra Research raised shares of Lululemon Athletica from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Oppenheimer increased their price target on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Finally, Bank of America dropped their price target on shares of Lululemon Athletica from $480.00 to $400.00 and set a "buy" rating for the company in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $367.79.

Lululemon Athletica Trading Down 0.9%

Shares of LULU traded down $2.73 during midday trading on Wednesday, reaching $318.47. The stock had a trading volume of 814,883 shares, compared to its average volume of 2,164,845. The firm has a market cap of $38.42 billion, a PE ratio of 22.97, a P/E/G ratio of 2.22 and a beta of 1.30. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32. The firm has a 50 day simple moving average of $285.82 and a 200-day simple moving average of $338.10.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.59 billion. During the same period in the prior year, the company earned $5.29 EPS. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts forecast that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LULU. Vanguard Group Inc. raised its holdings in Lululemon Athletica by 1.2% in the first quarter. Vanguard Group Inc. now owns 13,266,929 shares of the apparel retailer's stock valued at $3,755,337,000 after acquiring an additional 157,764 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Lululemon Athletica by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,010,908 shares of the apparel retailer's stock worth $1,418,389,000 after acquiring an additional 162,295 shares during the last quarter. Alliancebernstein L.P. grew its position in Lululemon Athletica by 9.0% in the 1st quarter. Alliancebernstein L.P. now owns 4,792,294 shares of the apparel retailer's stock valued at $1,356,507,000 after buying an additional 394,706 shares in the last quarter. Geode Capital Management LLC grew its position in Lululemon Athletica by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer's stock valued at $947,682,000 after buying an additional 10,461 shares in the last quarter. Finally, Capital World Investors grew its position in Lululemon Athletica by 34.6% in the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock valued at $827,338,000 after buying an additional 556,406 shares in the last quarter. 85.20% of the stock is 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.

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