Lululemon Athletica (NASDAQ:LULU) Given New $370.00 Price Target at Bank of America

Lululemon Athletica (NASDAQ:LULU) had its target price decreased by Bank of America from $400.00 to $370.00 in a research note issued to investors on Friday,Benzinga reports. Bank of America currently has a buy rating on the apparel retailer’s stock.

LULU has been the subject of a number of other reports. Raymond James reiterated a “market perform” rating and set a $430.00 price target on shares of Lululemon Athletica in a report on Friday, March 28th. Robert W. Baird lowered their price target on shares of Lululemon Athletica from $350.00 to $340.00 and set an “outperform” rating for the company in a report on Friday. KeyCorp lowered their price target on shares of Lululemon Athletica from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday. JPMorgan Chase & Co. lowered their price target on shares of Lululemon Athletica from $389.00 to $303.00 and set an “overweight” rating for the company in a report on Friday. Finally, Citigroup decreased their target price on shares of Lululemon Athletica from $325.00 to $270.00 and set a “neutral” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus target price of $344.96.

Lululemon Athletica Trading Down 19.8%

NASDAQ:LULU opened at $265.27 on Friday. The firm has a 50-day moving average price of $285.93 and a two-hundred day moving average price of $337.88. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $423.32. The company has a market capitalization of $32.00 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting the consensus estimate of $2.60. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm posted $2.54 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Nicola Wealth Management LTD. lifted its position in shares of Lululemon Athletica by 10.3% during the first quarter. Nicola Wealth Management LTD. now owns 35,300 shares of the apparel retailer’s stock worth $9,992,000 after purchasing an additional 3,300 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of Lululemon Athletica during the first quarter worth $806,000. Anderson Financial Strategies LLC lifted its position in shares of Lululemon Athletica by 242.3% during the first quarter. Anderson Financial Strategies LLC now owns 267 shares of the apparel retailer’s stock worth $76,000 after purchasing an additional 189 shares in the last quarter. Strs Ohio acquired a new position in shares of Lululemon Athletica during the first quarter worth $12,451,000. Finally, Mattson Financial Services LLC lifted its position in shares of Lululemon Athletica by 20.8% during the first quarter. Mattson Financial Services LLC now owns 482 shares of the apparel retailer’s stock worth $136,000 after purchasing an additional 83 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

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.