Robert W. Baird Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its price target reduced by research analysts at Robert W. Baird from $350.00 to $340.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the apparel retailer's stock. Robert W. Baird's price target suggests a potential upside of 31.25% from the stock's previous close.

A number of other equities analysts have also issued reports on LULU. Truist Financial lowered their target price on shares of Lululemon Athletica from $297.00 to $290.00 and set a "buy" rating on the stock in a research report on Friday. Cfra Research upgraded shares of Lululemon Athletica from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. JPMorgan Chase & Co. lowered their price objective on shares of Lululemon Athletica from $391.00 to $389.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus lowered their price objective on shares of Lululemon Athletica from $424.00 to $353.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Needham & Company LLC lowered their price objective on shares of Lululemon Athletica from $366.00 to $317.00 and set a "buy" rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have given 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 an average price target of $340.26.

Lululemon Athletica Price Performance

Shares of LULU traded down $6.23 during mid-day trading on Friday, reaching $259.04. 5,377,692 shares of the company's stock were exchanged, compared to its average volume of 2,182,832. The stock has a market capitalization of $31.25 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. The business's fifty day simple moving average is $285.93 and its 200-day simple moving average is $338.24. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $423.32.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.60. The business had revenue of $2.37 billion for 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 for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $2.54 earnings per share. Equities research analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LULU. Price T Rowe Associates Inc. MD raised its stake in shares of Lululemon Athletica by 95.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer's stock worth $1,854,160,000 after buying an additional 2,371,079 shares during the last quarter. Mawer Investment Management Ltd. acquired a new position in shares of Lululemon Athletica during the 4th quarter worth $523,520,000. Diamond Hill Capital Management Inc. acquired a new position in Lululemon Athletica in the 4th quarter valued at about $370,062,000. Alliancebernstein L.P. raised its stake in Lululemon Athletica by 14.9% in the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer's stock valued at $1,681,682,000 after purchasing an additional 571,657 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Lululemon Athletica by 37,062.1% in the 1st quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer's stock valued at $159,364,000 after purchasing an additional 561,491 shares during the last quarter. Institutional investors and hedge funds 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.