The Goldman Sachs Group Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $302.00

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by investment analysts at The Goldman Sachs Group from $363.00 to $302.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. The Goldman Sachs Group’s price target points to a potential upside of 15.02% from the stock’s previous close.

Other analysts also recently issued reports about the company. Morgan Stanley lowered their price target on Lululemon Athletica from $411.00 to $373.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Stifel Nicolaus decreased their price objective on shares of Lululemon Athletica from $424.00 to $353.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. BTIG Research reduced their price target on Lululemon Athletica from $470.00 to $420.00 and set a “buy” rating on the stock in a report on Friday, March 28th. BMO Capital Markets lowered their target price on shares of Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating for the company in a research note on Friday, March 28th. Finally, Bank of America decreased their price objective on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a report on Friday, March 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $372.28.

Lululemon Athletica Stock Performance

NASDAQ:LULU traded up $8.65 during trading hours on Tuesday, reaching $262.56. The stock had a trading volume of 259,374 shares, compared to its average volume of 2,218,403. The stock has a market capitalization of $31.67 billion, a PE ratio of 18.96, a PEG ratio of 2.22 and a beta of 1.31. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The company has a 50 day moving average price of $314.51 and a two-hundred day moving average price of $339.12.

Lululemon Athletica (NASDAQ:LULU) last posted its 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 net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the firm posted $5.29 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts predict that Lululemon Athletica will post 14.36 EPS for the current year.

Hedge Funds Weigh In On Lululemon Athletica

A number of large investors have recently made changes to their positions in the business. Westside Investment Management Inc. increased its position in Lululemon Athletica by 900.0% during the 3rd quarter. Westside Investment Management Inc. now owns 300 shares of the apparel retailer’s stock valued at $81,000 after buying an additional 270 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Lululemon Athletica by 17.4% in the 3rd quarter. Anchor Investment Management LLC now owns 4,582 shares of the apparel retailer’s stock valued at $1,243,000 after purchasing an additional 680 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its stake in Lululemon Athletica by 964.2% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,058 shares of the apparel retailer’s stock worth $3,815,000 after purchasing an additional 12,737 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Lululemon Athletica during the 3rd quarter worth approximately $15,038,000. Finally, Sfmg LLC acquired a new position in Lululemon Athletica during the 3rd quarter valued at approximately $2,984,000. 85.20% of the stock is owned by institutional investors and hedge funds.

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.