lululemon athletica (NASDAQ:LULU) Price Target Lowered to $225.00 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 target price reduced by equities researchers at Wells Fargo & Company from $270.00 to $225.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the apparel retailer's stock. Wells Fargo & Company's price objective indicates a potential upside of 18.78% from the company's current price.

A number of other brokerages have also recently issued reports on LULU. BMO Capital Markets lowered their price target on shares of lululemon athletica from $302.00 to $250.00 and set a "market perform" rating for the company in a research report on Friday, June 6th. JPMorgan Chase & Co. cut shares of lululemon athletica from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $303.00 to $224.00 in a research report on Tuesday, July 22nd. Jefferies Financial Group lowered their price target on shares of lululemon athletica from $220.00 to $200.00 and set an "underperform" rating for the company in a research report on Friday, June 6th. 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, June 3rd. Finally, BTIG Research decreased their target price on shares of lululemon athletica from $420.00 to $405.00 and set a "buy" rating for the company in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $329.91.

lululemon athletica Stock Down 0.9%

Shares of LULU traded down $1.71 during trading hours on Monday, reaching $189.43. 3,184,383 shares of the company traded hands, compared to its average volume of 3,128,553. The company's fifty day moving average price is $236.47 and its two-hundred day moving average price is $293.65. The company has a market capitalization of $22.70 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. lululemon athletica has a 12 month low of $186.52 and a 12 month high of $423.32.

lululemon athletica (NASDAQ:LULU - Get Free Report) last issued 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 net margin of 16.82% and a return on equity of 43.48%. The company 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. lululemon athletica's revenue was up 7.3% on a year-over-year basis. On average, analysts expect that lululemon athletica will post 14.36 EPS for the current year.

Insider Transactions at lululemon athletica

In related news, CEO Calvin Mcdonald sold 27,049 shares of the business's 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 completion of the sale, the chief executive officer directly owned 110,564 shares in the company, valued at approximately $26,058,829.16. The trade was a 19.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On lululemon athletica

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of lululemon athletica by 1.2% in the first quarter. Vanguard Group Inc. now owns 13,266,929 shares of the apparel retailer's stock worth $3,755,337,000 after purchasing an additional 157,764 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of lululemon athletica by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,010,908 shares of the apparel retailer's stock worth $1,418,389,000 after purchasing an additional 162,295 shares during the period. Alliancebernstein L.P. boosted its position in shares of lululemon athletica by 9.0% in the first quarter. Alliancebernstein L.P. now owns 4,792,294 shares of the apparel retailer's stock worth $1,356,507,000 after purchasing an additional 394,706 shares during the period. Geode Capital Management LLC boosted its position in shares of lululemon athletica by 16.2% in the second quarter. Geode Capital Management LLC now owns 2,960,387 shares of the apparel retailer's stock worth $700,502,000 after purchasing an additional 413,062 shares during the period. Finally, Capital World Investors boosted its position in shares of lululemon athletica by 34.6% in the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock worth $827,338,000 after purchasing an additional 556,406 shares during the period. 85.20% of the stock is currently owned by institutional investors.

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.