Lululemon Athletica (NASDAQ:LULU) Given New $411.00 Price Target at Morgan Stanley

Lululemon Athletica (NASDAQ:LULU) had its target price cut by stock analysts at Morgan Stanley from $420.00 to $411.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s price target would suggest a potential upside of 27.22% from the stock’s previous close.

A number of other analysts have also recently issued reports on LULU. Needham & Company LLC raised Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price objective for the company in a research report on Friday, January 10th. Robert W. Baird boosted their price objective on shares of Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised their target price on Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a report on Monday, December 9th. William Blair restated an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Finally, Citigroup boosted their price target on Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.83.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $323.07 on Wednesday. The company has a 50 day moving average price of $374.01 and a 200 day moving average price of $336.06. The firm has a market capitalization of $39.34 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $480.94.

Insider Buying and Selling at Lululemon Athletica

In related news, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. This represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Lululemon Athletica

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TCTC Holdings LLC acquired a new stake in shares of Lululemon Athletica during the 4th quarter valued at $26,000. Anderson Financial Strategies LLC acquired a new stake in Lululemon Athletica during the 4th quarter valued at approximately $30,000. Kestra Investment Management LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth $32,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Lululemon Athletica in the fourth quarter valued at $32,000. Finally, Sound Income Strategies LLC boosted its position in Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

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.