Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $470.00

Lululemon Athletica (NASDAQ:LULU - Free Report) had its price target lowered by Piper Sandler from $525.00 to $470.00 in a research report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the apparel retailer's stock.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets increased their price objective on shares of Lululemon Athletica from $408.00 to $420.00 and gave the stock a market perform rating in a research report on Friday, March 22nd. Jefferies Financial Group reduced their price target on shares of Lululemon Athletica from $300.00 to $240.00 and set an underperform rating for the company in a report on Thursday, April 4th. Sanford C. Bernstein raised their price target on shares of Lululemon Athletica from $400.00 to $430.00 and gave the stock a market perform rating in a report on Thursday, January 4th. JPMorgan Chase & Co. reduced their price target on shares of Lululemon Athletica from $531.00 to $509.00 and set an overweight rating for the company in a report on Friday, March 22nd. Finally, Barclays reduced their price target on shares of Lululemon Athletica from $610.00 to $546.00 and set an overweight rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of Moderate Buy and a consensus target price of $488.79.

Lululemon Athletica Price Performance

Shares of LULU traded down $1.66 during trading hours on Tuesday, hitting $358.80. 1,958,356 shares of the stock were exchanged, compared to its average volume of 1,729,470. Lululemon Athletica has a fifty-two week low of $326.93 and a fifty-two week high of $516.39. The business has a 50-day moving average of $441.29 and a 200-day moving average of $441.53. The firm has a market capitalization of $45.21 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The company had revenue of $3.21 billion during the quarter, compared to analysts' expectations of $3.19 billion. During the same period in the prior year, the company posted $4.40 earnings per share. Lululemon Athletica's revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, analysts forecast that Lululemon Athletica will post 14.15 earnings per share for the current fiscal year.

Insider Activity at Lululemon Athletica

In other news, Director Martha A. M. Morfitt purchased 700 shares of the company's stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average cost of $389.29 per share, with a total value of $272,503.00. Following the completion of the transaction, the director now directly owns 500 shares of the company's stock, valued at $194,645. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by insiders.

Institutional Trading of Lululemon Athletica

Hedge funds have recently added to or reduced their stakes in the stock. Valley National Advisers Inc. raised its position in Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer's stock worth $25,000 after acquiring an additional 42 shares during the period. Tidemark LLC bought a new stake in Lululemon Athletica in the fourth quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in Lululemon Athletica in the fourth quarter worth about $26,000. Morton Brown Family Wealth LLC bought a new stake in Lululemon Athletica in the fourth quarter worth about $31,000. Finally, Richardson Financial Services Inc. bought a new stake in Lululemon Athletica in the fourth quarter worth about $31,000. 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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.