Wells Fargo & Company Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its target price dropped by equities research analysts at Wells Fargo & Company from $375.00 to $315.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 8.23% from the stock’s previous close.

LULU has been the topic of a number of other research reports. KeyCorp lifted their price target on shares of Lululemon Athletica from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Jefferies Financial Group restated an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a report on Monday, December 2nd. Stifel Nicolaus dropped their target price on shares of Lululemon Athletica from $438.00 to $424.00 and set a “buy” rating on the stock in a research report on Friday. BMO Capital Markets raised their price target on shares of Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Finally, Telsey Advisory Group lowered their price target on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $387.86.

Lululemon Athletica Stock Down 14.8 %

LULU stock traded down $50.47 during trading hours on Friday, hitting $291.06. The company’s stock had a trading volume of 3,461,973 shares, compared to its average volume of 2,083,349. The stock has a 50 day moving average price of $366.25 and a two-hundred day moving average price of $338.67. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The company has a market capitalization of $35.45 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, topping the consensus estimate 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 prior year, the business posted $5.29 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Investors Weigh In On Lululemon Athletica

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