Lululemon Athletica (NASDAQ:LULU) Given New $302.00 Price Target at BMO Capital Markets

Lululemon Athletica (NASDAQ:LULU) had its target price cut by research analysts at BMO Capital Markets from $313.00 to $302.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the apparel retailer’s stock. BMO Capital Markets’ target price points to a potential upside of 3.53% from the company’s current price.

Several other brokerages have also recently weighed in on LULU. KeyCorp reduced their price objective on shares of Lululemon Athletica from $420.00 to $400.00 and set an “overweight” rating on the stock in a research note on Friday. Jefferies Financial Group restated an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a research report on Monday, December 2nd. JPMorgan Chase & Co. reduced their target price on Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Finally, Truist Financial upped their price objective on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $383.66.

Lululemon Athletica Trading Down 14.6 %

Lululemon Athletica stock traded down $49.83 during mid-day trading on Friday, reaching $291.71. The company had a trading volume of 8,302,889 shares, compared to its average volume of 2,125,678. The business has a fifty day simple moving average of $366.25 and a 200 day simple moving average of $338.67. The company has a market cap of $35.53 billion, a P/E ratio of 21.06, a P/E/G ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32.

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

Institutional Trading of Lululemon Athletica

A number of hedge funds have recently bought and sold shares of LULU. Qsemble Capital Management LP bought a new position in Lululemon Athletica during the third quarter valued at about $210,000. D.A. Davidson & CO. boosted its stake in Lululemon Athletica by 13.1% in the third 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 last quarter. Townsquare Capital LLC grew its position in shares of Lululemon Athletica by 47.9% during the 3rd quarter. Townsquare Capital LLC now owns 2,205 shares of the apparel retailer’s stock valued at $598,000 after acquiring an additional 714 shares during the period. Glenmede Trust Co. NA increased its stake in shares of Lululemon Athletica by 18.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,614 shares of the apparel retailer’s stock worth $438,000 after purchasing an additional 256 shares during the last quarter. Finally, CreativeOne Wealth LLC bought a new stake in shares of Lululemon Athletica in the 3rd quarter worth approximately $274,000. 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.