lululemon athletica (NASDAQ:LULU) Price Target Cut to $240.00 by Analysts at UBS Group

Key Points

• UBS Group has reduced its price target for lululemon athletica from $290.00 to $240.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 16.67% from the previous close.
• Multiple research firms have adjusted their price targets for lululemon athletica, with Goldman Sachs lowering theirs from $363.00 to $302.00, while analysts generally hold a consensus target price of $325.43, indicating a "Moderate Buy" rating.
• Despite price target reductions, lululemon athletica's latest quarterly earnings met expectations, reporting a revenue of $2.37 billion and an EPS of $2.60, representing a 7.3% year-over-year revenue growth.

lululemon athletica (NASDAQ:LULU - Get Free Report) had its price target dropped by stock analysts at UBS Group from $290.00 to $240.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the apparel retailer's stock. UBS Group's price target points to a potential upside of 16.67% from the company's previous close.

A number of other research firms also recently issued reports on LULU. The Goldman Sachs Group dropped their price target on lululemon athletica from $363.00 to $302.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. BTIG Research decreased their price target on shares of lululemon athletica from $420.00 to $405.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. KeyCorp lowered their target price on shares of lululemon athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, June 6th. Needham & Company LLC decreased their price objective on lululemon athletica from $366.00 to $317.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Finally, Stifel Nicolaus decreased their price objective on lululemon athletica from $353.00 to $324.00 and set a "buy" rating for the company in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, lululemon athletica presently has an average rating of "Moderate Buy" and a consensus target price of $325.43.

lululemon athletica Price Performance

Shares of lululemon athletica stock traded up $7.26 during trading on Monday, hitting $205.72. 2,733,045 shares of the company's stock traded hands, compared to its average volume of 2,648,212. lululemon athletica has a 1 year low of $185.95 and a 1 year high of $423.32. The stock has a market capitalization of $24.65 billion, a P/E ratio of 13.93, a PEG ratio of 1.69 and a beta of 1.16. The business has a 50-day simple moving average of $224.16 and a 200-day simple moving average of $284.87.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, meeting the consensus estimate 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 return on equity of 43.48% and a net margin of 16.82%. lululemon athletica's 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, equities analysts predict that lululemon athletica will post 14.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $235.69, for a total value of $6,375,178.81. Following the sale, the chief executive officer directly owned 110,564 shares of the company's stock, valued at approximately $26,058,829.16. This represents a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On lululemon athletica

A number of large investors have recently bought and sold shares of LULU. Brighton Jones LLC acquired a new position in lululemon athletica in the 4th quarter worth about $429,000. Fourth Dimension Wealth LLC acquired a new position in lululemon athletica in the 4th quarter worth about $61,000. NewEdge Advisors LLC raised its holdings in lululemon athletica by 4.0% in the 4th quarter. NewEdge Advisors LLC now owns 3,662 shares of the apparel retailer's stock worth $1,400,000 after purchasing an additional 141 shares during the period. GeoWealth Management LLC raised its holdings in lululemon athletica by 46.4% in the 4th quarter. GeoWealth Management LLC now owns 470 shares of the apparel retailer's stock worth $180,000 after purchasing an additional 149 shares during the period. Finally, Forum Financial Management LP acquired a new stake in shares of lululemon athletica in the fourth quarter valued at about $274,000. 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.

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