lululemon athletica (NASDAQ:LULU) Price Target Cut to $225.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its target price for lululemon athletica from $270.00 to $225.00, maintaining an "equal weight" rating on the stock.
• In addition to Wells Fargo's downgrade, analysts from several firms have also cut price targets, with Stifel Nicolaus adjusting theirs from $353.00 to $324.00 while maintaining a "buy" rating.
• lululemon athletica reported $2.60 earnings per share for the last quarter, matching consensus estimates, and saw a revenue increase of 7.3% year-over-year.

lululemon athletica (NASDAQ:LULU - Get Free Report) had its price target cut by stock analysts at Wells Fargo & Company from $270.00 to $225.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the apparel retailer's stock. Wells Fargo & Company's price objective points to a potential upside of 14.52% from the company's current price.

A number of other analysts have also recently weighed in on the company. Telsey Advisory Group reissued an "outperform" rating and issued a $385.00 price objective on shares of lululemon athletica in a research report on Monday, June 2nd. KeyCorp lowered their price objective on lululemon athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, June 6th. Bank of America lowered their price objective on lululemon athletica from $400.00 to $370.00 and set a "buy" rating for the company in a research report on Friday, June 6th. The Goldman Sachs Group reduced their target price on lululemon athletica from $363.00 to $302.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus reduced their target price 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 research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $332.02.

lululemon athletica Stock Up 0.7%

NASDAQ:LULU traded up $1.40 during midday trading on Monday, hitting $196.47. The stock had a trading volume of 482,361 shares, compared to its average volume of 2,590,197. lululemon athletica has a one year low of $191.44 and a one year high of $423.32. The company has a market capitalization of $23.55 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.67 and a beta of 1.16. The stock has a 50-day moving average of $243.85 and a 200 day moving average of $296.86.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $2.60. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the business posted $2.54 EPS. The business's revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that lululemon athletica will post 14.36 earnings per share for the current fiscal year.

Insider Transactions at lululemon athletica

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $235.69, for a total value of $6,375,178.81. Following the completion of the transaction, the chief executive officer owned 110,564 shares in the company, valued at $26,058,829.16. This represents a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On lululemon athletica

Hedge funds have recently made changes to their positions in the business. Twin Capital Management Inc. boosted its stake in shares of lululemon athletica by 58.3% during the first quarter. Twin Capital Management Inc. now owns 3,676 shares of the apparel retailer's stock worth $1,041,000 after buying an additional 1,354 shares during the period. Narwhal Capital Management boosted its stake in shares of lululemon athletica by 262.7% during the first quarter. Narwhal Capital Management now owns 18,777 shares of the apparel retailer's stock worth $5,315,000 after buying an additional 13,600 shares during the period. Sawgrass Asset Management LLC acquired a new stake in shares of lululemon athletica during the first quarter worth about $9,209,000. Flossbach Von Storch SE boosted its stake in shares of lululemon athletica by 10.3% during the first quarter. Flossbach Von Storch SE now owns 1,401,885 shares of the apparel retailer's stock worth $396,818,000 after buying an additional 130,565 shares during the period. Finally, Bender Robert & Associates boosted its stake in shares of lululemon athletica by 18.5% during the first quarter. Bender Robert & Associates now owns 44,961 shares of the apparel retailer's stock worth $12,727,000 after buying an additional 7,028 shares during the period. 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.