lululemon athletica (NASDAQ:LULU) Price Target Lowered to $170.00 at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein cut lululemon athletica’s price target from $180 to $170 while keeping a market perform rating, implying about 34% upside from the current share price.
• Several other analysts also lowered their views on the stock, with price targets reduced by firms including Evercore, Jefferies, Piper Sandler, and Robert W. Baird; the broader consensus remains Hold.
• Shares of lululemon were down 4.3% to $126.47, and the company recently reported quarterly earnings that beat expectations on both EPS and revenue.

lululemon athletica (NASDAQ:LULU - Get Free Report) had its price target lowered by research analysts at Sanford C. Bernstein from $180.00 to $170.00 in a research report issued on Wednesday,MarketScreener reports. The firm presently has a "market perform" rating on the apparel retailer's stock. Sanford C. Bernstein's price objective would indicate a potential upside of 34.42% from the stock's current price.

Other analysts also recently issued research reports about the company. Evercore decreased their price target on lululemon athletica from $175.00 to $130.00 in a research note on Wednesday. Jefferies Financial Group cut their price objective on lululemon athletica from $170.00 to $145.00 and set a "hold" rating on the stock in a research note on Tuesday, April 28th. Piper Sandler decreased their target price on lululemon athletica from $190.00 to $130.00 and set a "neutral" rating for the company in a research report on Friday, May 22nd. Weiss Ratings downgraded lululemon athletica from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, March 31st. Finally, Robert W. Baird dropped their price target on shares of lululemon athletica from $190.00 to $170.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twenty-eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $197.09.

lululemon athletica Stock Down 4.3%

Shares of LULU opened at $126.47 on Wednesday. The firm has a market cap of $15.27 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 4.07 and a beta of 0.87. The company's fifty day moving average is $144.29 and its 200-day moving average is $171.29. lululemon athletica has a 12 month low of $116.63 and a 12 month high of $340.25.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings data on Tuesday, March 17th. The apparel retailer reported $5.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.23. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.59 billion. lululemon athletica had a net margin of 14.22% and a return on equity of 34.82%. lululemon athletica's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.14 EPS. As a group, research analysts predict that lululemon athletica will post 12.26 earnings per share for the current fiscal year.

Insider Activity at lululemon athletica

In other lululemon athletica news, Director Charles V. Bergh bought 6,090 shares of the stock in a transaction on Friday, March 20th. The shares were purchased at an average price of $164.20 per share, with a total value of $999,978.00. Following the acquisition, the director directly owned 6,090 shares of the company's stock, valued at $999,978. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 622 shares of lululemon athletica stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $161.00, for a total value of $100,142.00. Following the completion of the transaction, the insider directly owned 19,156 shares in the company, valued at approximately $3,084,116. This represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On lululemon athletica

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in lululemon athletica in the 4th quarter valued at $362,598,000. Boston Partners bought a new position in shares of lululemon athletica during the 4th quarter worth about $304,875,000. Vanguard Group Inc. raised its position in shares of lululemon athletica by 3.9% during the third quarter. Vanguard Group Inc. now owns 13,782,917 shares of the apparel retailer's stock valued at $2,452,394,000 after buying an additional 521,915 shares during the last quarter. Invesco Ltd. lifted its stake in shares of lululemon athletica by 28.7% in the third quarter. Invesco Ltd. now owns 2,200,552 shares of the apparel retailer's stock valued at $391,544,000 after buying an additional 490,127 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in lululemon athletica by 77.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 979,054 shares of the apparel retailer's stock worth $203,457,000 after buying an additional 426,860 shares in the last quarter. Institutional investors own 85.20% of the company's stock.

lululemon athletica Company Profile

lululemon athletica inc. is a design-focused athletic apparel company known for performance-oriented apparel, footwear and accessories. The company's product portfolio centers on technical apparel for yoga, running, training and everyday active lifestyle use and includes tops, bottoms, outerwear, underwear, bags and a growing footwear assortment. lululemon emphasizes fabric science and product innovation, marketing garments that blend performance features with lifestyle styling.

Products are developed in-house and produced through a network of third-party manufacturers.

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