lululemon athletica (NASDAQ:LULU) Given New $260.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird has reduced its price target for lululemon athletica from $340.00 to $260.00, maintaining an "outperform" rating that implies a potential upside of 37.25% from the stock's previous close.
• Other analysts have also modified their ratings, with changes including Wells Fargo lowering its target from $270.00 to $225.00, while Evercore ISI raised it from $320.00 to $400.00.
• Despite the mixed ratings, lululemon's stock currently holds an average rating of "Moderate Buy" with a consensus target price of $327.15.

lululemon athletica (NASDAQ:LULU - Get Free Report) had its price objective lowered by research analysts at Robert W. Baird from $340.00 to $260.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the apparel retailer's stock. Robert W. Baird's price target would indicate a potential upside of 34.76% from the company's previous close.

LULU has been the topic of several other reports. The Goldman Sachs Group cut their price target on lululemon athletica from $363.00 to $302.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler cut their price target on lululemon athletica from $270.00 to $200.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. TD Securities lifted their price target on lululemon athletica from $370.00 to $373.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Barclays cut their price target on lululemon athletica from $270.00 to $209.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Finally, Stifel Nicolaus cut their price target on lululemon athletica from $353.00 to $324.00 and set a "buy" rating for the company in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $327.15.

lululemon athletica Trading Up 3.5%

LULU traded up $6.49 during midday trading on Monday, hitting $192.93. 3,390,657 shares of the company were exchanged, compared to its average volume of 3,164,083. The company's 50 day simple moving average is $230.90 and its 200 day simple moving average is $290.19. The firm has a market capitalization of $23.12 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. lululemon athletica has a 1-year low of $185.95 and a 1-year high of $423.32.

lululemon athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, hitting the consensus estimate of $2.60. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $2.54 EPS. On average, equities analysts anticipate that lululemon athletica will post 14.36 EPS for the current year.

Insider Activity at lululemon athletica

In other news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the sale, the chief executive officer owned 110,564 shares of the company's stock, valued at approximately $26,058,829.16. The trade was a 19.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.54% of the company's stock.

Institutional Trading of lululemon athletica

Several institutional investors have recently made changes to their positions in the company. Dnca Finance raised its position in shares of lululemon athletica by 15.1% during the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer's stock valued at $76,000 after buying an additional 26 shares during the period. Lido Advisors LLC raised its position in lululemon athletica by 1.9% in the fourth quarter. Lido Advisors LLC now owns 1,748 shares of the apparel retailer's stock valued at $668,000 after purchasing an additional 32 shares during the period. Belpointe Asset Management LLC raised its position in lululemon athletica by 0.6% in the fourth quarter. Belpointe Asset Management LLC now owns 6,138 shares of the apparel retailer's stock valued at $2,347,000 after purchasing an additional 36 shares during the period. Colonial Trust Co SC raised its position in lululemon athletica by 2.1% in the fourth quarter. Colonial Trust Co SC now owns 1,737 shares of the apparel retailer's stock valued at $664,000 after purchasing an additional 36 shares during the period. Finally, Manhattan West Asset Management LLC raised its position in lululemon athletica by 5.4% in the first quarter. Manhattan West Asset Management LLC now owns 724 shares of the apparel retailer's stock valued at $205,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 85.20% of the company's stock.

About lululemon athletica

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.