BMO Capital Markets Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $250.00

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its price objective lowered by investment analysts at BMO Capital Markets from $302.00 to $250.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "market perform" rating on the apparel retailer's stock. BMO Capital Markets' target price would indicate a potential downside of 3.49% from the stock's current price.

A number of other equities analysts have also weighed in on LULU. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $385.00 price objective on shares of Lululemon Athletica in a research note on Monday, June 2nd. Truist Financial dropped their target price on shares of Lululemon Athletica from $297.00 to $290.00 and set a "buy" rating for the company in a research report on Friday. Citigroup dropped their target price on shares of Lululemon Athletica from $325.00 to $270.00 and set a "neutral" rating for the company in a research report on Friday. TD Securities upped their target price on shares of Lululemon Athletica from $370.00 to $373.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Finally, Bank of America dropped their target price on shares of Lululemon Athletica from $400.00 to $370.00 and set a "buy" rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.26.

Lululemon Athletica Stock Performance

Shares of LULU traded down $6.23 during mid-day trading on Friday, reaching $259.04. The stock had a trading volume of 5,377,692 shares, compared to its average volume of 2,182,832. The firm has a market cap of $31.25 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.22 and a beta of 1.26. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The business has a fifty day moving average of $285.93 and a 200 day moving average of $338.24.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, hitting analysts' consensus estimates of $2.60. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 earnings per share. On average, research analysts forecast that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Lululemon Athletica by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 13,266,929 shares of the apparel retailer's stock worth $3,755,337,000 after purchasing an additional 157,764 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Lululemon Athletica by 3.3% during the 1st 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 purchasing an additional 162,295 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Lululemon Athletica by 9.0% during the 1st quarter. Alliancebernstein L.P. now owns 4,792,294 shares of the apparel retailer's stock worth $1,356,507,000 after purchasing an additional 394,706 shares during the period. Geode Capital Management LLC boosted its stake in shares of Lululemon Athletica by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer's stock worth $947,682,000 after purchasing an additional 10,461 shares during the period. Finally, Capital World Investors boosted its stake in shares of Lululemon Athletica by 34.6% during the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock worth $827,338,000 after purchasing an additional 556,406 shares during the period. 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.