Lululemon Athletica (NASDAQ:LULU) Given New $346.00 Price Target at Morgan Stanley

Lululemon Athletica (NASDAQ:LULU) had its target price reduced by equities researchers at Morgan Stanley from $373.00 to $346.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s price target would indicate a potential upside of 8.65% from the company’s previous close.

Several other research analysts have also recently weighed in on LULU. Oppenheimer increased their price objective on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group cut their price objective on Lululemon Athletica from $363.00 to $302.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. BTIG Research reduced their target price on Lululemon Athletica from $470.00 to $420.00 and set a “buy” rating on the stock in a report on Friday, March 28th. KeyCorp lowered their target price on Lululemon Athletica from $420.00 to $400.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Finally, Raymond James reaffirmed a “market perform” rating and set a $430.00 target price on shares of Lululemon Athletica in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $367.79.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock traded down $2.73 during midday trading on Wednesday, hitting $318.47. The company had a trading volume of 814,883 shares, compared to its average volume of 2,164,845. The stock has a market cap of $38.42 billion, a PE ratio of 22.97, a P/E/G ratio of 2.22 and a beta of 1.30. The business’s 50 day simple moving average is $285.82 and its two-hundred day simple moving average is $338.10. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $423.32.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in Lululemon Athletica during the 1st quarter valued at $25,000. TCTC Holdings LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC raised its stake in shares of Lululemon Athletica by 506.3% in the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Flaharty Asset Management LLC acquired a new stake in Lululemon Athletica in the first quarter valued at $29,000. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth about $30,000. Institutional investors 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.