KeyCorp Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $400.00

Lululemon Athletica (NASDAQ:LULU) had its price objective cut by KeyCorp from $420.00 to $400.00 in a research report sent to investors on Friday morning, Marketbeat.com reports. They currently have an overweight rating on the apparel retailer’s stock.

Several other research firms have also recently commented on LULU. BMO Capital Markets increased their target price on Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. UBS Group decreased their target price on Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating for the company in a research report on Friday. Truist Financial boosted their price target on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a report on Friday, January 10th. Barclays raised their price objective on Lululemon Athletica from $378.00 to $411.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, TD Cowen raised their price target on Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $380.72.

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $293.06 on Friday. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $423.32. The company has a market capitalization of $35.69 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. The firm’s fifty day moving average price is $364.63 and its 200 day moving average price is $340.22.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.85 by $0.29. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $5.29 earnings per share. Analysts forecast that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently modified their holdings of the stock. Qsemble Capital Management LP purchased a new stake in shares of Lululemon Athletica during the third quarter valued at $210,000. D.A. Davidson & CO. increased its stake 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 worth $834,000 after purchasing an additional 356 shares in the last quarter. Townsquare Capital LLC raised its holdings in Lululemon Athletica by 47.9% during the 3rd quarter. Townsquare Capital LLC now owns 2,205 shares of the apparel retailer’s stock worth $598,000 after buying an additional 714 shares during the period. Glenmede Trust Co. NA boosted 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 worth $438,000 after buying an additional 256 shares during the period. Finally, CreativeOne Wealth LLC purchased a new position in shares of Lululemon Athletica during the third quarter valued at $274,000. 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.