Bank of America Trims Lululemon Athletica (NASDAQ:LULU) Target Price to $430.00

Lululemon Athletica (NASDAQ:LULU) had its price target lowered by Bank of America from $530.00 to $430.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the apparel retailer’s stock.

Several other research firms have also weighed in on LULU. Piper Sandler lowered their target price on shares of Lululemon Athletica from $525.00 to $470.00 and set an overweight rating on the stock in a report on Tuesday, April 9th. TD Cowen reduced their target price on Lululemon Athletica from $553.00 to $515.00 and set an outperform rating on the stock in a report on Friday, March 22nd. HSBC dropped their price target on Lululemon Athletica from $500.00 to $405.00 in a report on Wednesday, April 10th. BNP Paribas lowered Lululemon Athletica from a neutral rating to an underperform rating and reduced their price objective for the stock from $430.00 to $415.00 in a research note on Friday, February 9th. Finally, Stifel Nicolaus restated a buy rating and issued a $539.00 target price (down from $596.00) on shares of Lululemon Athletica in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $465.13.

Lululemon Athletica Stock Up 1.1 %

NASDAQ:LULU opened at $303.01 on Thursday. The firm has a market capitalization of $38.18 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.35 and a beta of 1.30. Lululemon Athletica has a 12-month low of $295.28 and a 12-month high of $516.39. The firm has a 50-day moving average price of $363.48 and a 200 day moving average price of $430.77.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. The business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. Lululemon Athletica’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.40 EPS. On average, research analysts expect that Lululemon Athletica will post 14.11 EPS for the current year.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors have recently added to or reduced their stakes in the stock. Daymark Wealth Partners LLC raised its stake in shares of Lululemon Athletica by 3.8% in the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock valued at $293,000 after purchasing an additional 21 shares during the period. Simon Quick Advisors LLC lifted its stake in Lululemon Athletica by 1.9% in the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock valued at $612,000 after acquiring an additional 22 shares in the last quarter. Pinnacle Financial Partners Inc lifted its stake in Lululemon Athletica by 1.9% in the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after acquiring an additional 23 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in shares of Lululemon Athletica by 11.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock worth $97,000 after acquiring an additional 25 shares in the last quarter. Finally, Moody National Bank Trust Division raised its holdings in shares of Lululemon Athletica by 1.0% in the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after purchasing an additional 29 shares during the last quarter. 85.20% of the stock is owned by institutional investors.

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.