Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $350.00 by Analysts at KeyCorp

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its target price decreased by KeyCorp from $400.00 to $350.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the apparel retailer's stock. KeyCorp's target price suggests a potential upside of 29.56% from the company's previous close.

LULU has been the subject of several other research reports. William Blair restated an "outperform" rating on shares of Lululemon Athletica in a research note on Thursday, April 3rd. TD Securities increased their price objective on shares of Lululemon Athletica from $370.00 to $373.00 and gave the company a "buy" rating in a report on Tuesday. Telsey Advisory Group restated an "outperform" rating and set a $385.00 price objective on shares of Lululemon Athletica in a research note on Monday. Barclays lowered their target price on Lululemon Athletica from $309.00 to $276.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Finally, Needham & Company LLC dropped their price target on shares of Lululemon Athletica from $366.00 to $317.00 and set a "buy" rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lululemon Athletica presently has a consensus rating of "Moderate Buy" and a consensus target price of $361.48.

Lululemon Athletica Stock Down 18.3%

LULU stock opened at $270.15 on Friday. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The company has a market cap of $32.59 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 2.22 and a beta of 1.26. The business has a fifty day simple moving average of $286.22 and a 200-day simple moving average of $338.13.

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 (EPS) for the quarter, hitting the consensus estimate of $2.60. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate 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. As a group, analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

Hedge funds and other institutional investors have recently bought and sold shares of the business. N.E.W. Advisory Services LLC purchased a new stake in Lululemon Athletica in the first quarter worth $25,000. TCTC Holdings LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at $26,000. Cornerstone Planning Group LLC increased its stake in shares of Lululemon Athletica by 506.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in Lululemon Athletica during the first quarter worth approximately $29,000. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of Lululemon Athletica in the 4th quarter valued at approximately $30,000. 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.

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