BTIG Research Has Lowered Expectations for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by stock analysts at BTIG Research from $470.00 to $420.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. BTIG Research’s target price would indicate a potential upside of 44.43% from the company’s current price.

Several other research analysts have also weighed in on the company. Robert W. Baird upped their price target on Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC decreased their price target on Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday. TD Cowen raised their price target on Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Finally, UBS Group reduced their price target on shares of Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Trading Down 14.9 %

NASDAQ LULU traded down $50.73 during trading hours on Friday, hitting $290.80. 9,836,341 shares of the company’s stock traded hands, compared to its average volume of 2,131,810. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The firm has a market capitalization of $35.41 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.22 and a beta of 1.21. The business’s fifty day moving average price is $366.25 and its two-hundred day moving average price is $338.67.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the firm earned $5.29 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts expect that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Institutional Trading of Lululemon Athletica

Large investors have recently made changes to their positions in the stock. Qsemble Capital Management LP acquired a new position in shares of Lululemon Athletica during the third quarter valued at $210,000. D.A. Davidson & CO. increased its position in Lululemon Athletica by 13.1% in the 3rd quarter. D.A. Davidson & CO. now owns 3,074 shares of the apparel retailer’s stock valued at $834,000 after acquiring an additional 356 shares during the period. Townsquare Capital LLC boosted its stake in Lululemon Athletica by 47.9% during the third quarter. Townsquare Capital LLC now owns 2,205 shares of the apparel retailer’s stock worth $598,000 after acquiring an additional 714 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Lululemon Athletica by 18.9% in the third quarter. Glenmede Trust Co. NA now owns 1,614 shares of the apparel retailer’s stock valued at $438,000 after purchasing an additional 256 shares in the last quarter. Finally, CreativeOne Wealth LLC purchased a new stake in Lululemon Athletica in the third quarter worth $274,000. 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.