Wells Fargo & Company Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its target price cut by equities researchers at Wells Fargo & Company from $300.00 to $270.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has an "equal weight" rating on the apparel retailer's stock. Wells Fargo & Company's price target would indicate a potential upside of 1.78% from the stock's current price.

A number of other brokerages have also recently weighed in on LULU. William Blair reiterated an "outperform" rating on shares of Lululemon Athletica in a research report on Thursday, April 3rd. Evercore ISI lifted their price target on shares of Lululemon Athletica from $320.00 to $400.00 and gave the company an "outperform" rating in a research report on Tuesday. BTIG Research dropped their price target on shares of Lululemon Athletica from $420.00 to $405.00 and set a "buy" rating for the company in a research report on Friday. Robert W. Baird dropped their price target on shares of Lululemon Athletica from $350.00 to $340.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Citigroup upped their target price on shares of Lululemon Athletica from $275.00 to $325.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of "Moderate Buy" and a consensus price target of $344.96.

Lululemon Athletica Trading Down 19.8%

LULU stock traded down $65.51 during trading on Friday, reaching $265.27. 16,083,546 shares of the stock were exchanged, compared to its average volume of 2,177,376. The business has a 50 day moving average price of $285.93 and a 200-day moving average price of $337.88. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32. The firm has a market capitalization of $32.00 billion, a price-to-earnings 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 earnings results 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 company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm earned $2.54 earnings per share. Lululemon Athletica's quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Trading of Lululemon Athletica

Institutional investors have recently modified their holdings of the stock. TCTC Holdings LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth approximately $26,000. Anderson Financial Strategies LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth approximately $30,000. Kestra Investment Management LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth approximately $32,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth approximately $32,000. Finally, Asset Planning Inc purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth approximately $33,000. 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.