Lululemon Athletica (NASDAQ:LULU) Price Target Lowered to $317.00 at Needham & Company LLC

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its price objective decreased by equities researchers at Needham & Company LLC from $366.00 to $317.00 in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has a "buy" rating on the apparel retailer's stock. Needham & Company LLC's target price suggests a potential upside of 19.50% from the stock's current price.

A number of other equities research analysts also recently issued reports on LULU. Citigroup upped their price objective on Lululemon Athletica from $275.00 to $325.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Telsey Advisory Group restated an "outperform" rating and set a $385.00 price target on shares of Lululemon Athletica in a report on Monday. Morgan Stanley lowered their price target on Lululemon Athletica from $373.00 to $346.00 and set an "overweight" rating for the company in a research report on Wednesday, May 28th. KeyCorp cut their price objective on shares of Lululemon Athletica from $420.00 to $400.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, The Goldman Sachs Group lowered their target price on shares of Lululemon Athletica from $363.00 to $302.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $347.72.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU traded down $65.51 during midday trading on Friday, reaching $265.27. 16,083,546 shares of the stock traded hands, compared to its average volume of 2,176,894. The company's 50 day moving average is $286.22 and its 200 day moving average is $338.13. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32. The stock has a market capitalization of $32.00 billion, a PE ratio of 19.15, a P/E/G ratio of 2.22 and a beta of 1.26.

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

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds and other institutional investors have recently modified their holdings of LULU. Vanguard Group Inc. increased its holdings in shares of Lululemon Athletica by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 13,266,929 shares of the apparel retailer's stock valued at $3,755,337,000 after acquiring an additional 157,764 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Lululemon Athletica by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,010,908 shares of the apparel retailer's stock valued at $1,418,389,000 after purchasing an additional 162,295 shares in the last quarter. Alliancebernstein L.P. grew its stake in Lululemon Athletica by 9.0% in the first quarter. Alliancebernstein L.P. now owns 4,792,294 shares of the apparel retailer's stock valued at $1,356,507,000 after purchasing an additional 394,706 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lululemon Athletica by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer's stock valued at $947,682,000 after buying an additional 10,461 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of Lululemon Athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock valued at $827,338,000 after buying an additional 556,406 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

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.