Bank of America Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $400.00

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by Bank of America from $480.00 to $400.00 in a research note released on Friday, Marketbeat Ratings reports. They currently have a buy rating on the apparel retailer’s stock.

A number of other research analysts also recently issued reports on LULU. Piper Sandler boosted their target price on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Evercore ISI boosted their price objective on Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Raymond James restated an “outperform” rating and issued a $430.00 target price (up previously from $400.00) on shares of Lululemon Athletica in a research note on Wednesday, January 15th. Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $360.00 to $460.00 in a research report on Tuesday, January 7th. Finally, UBS Group upped their price objective on Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus price target of $380.72.

Lululemon Athletica Stock Down 14.2 %

Shares of NASDAQ:LULU opened at $293.06 on Friday. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $423.32. The stock has a market cap of $35.69 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21. The business has a 50-day moving average price of $364.63 and a 200-day moving average price of $340.22.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share 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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company earned $5.29 EPS. Lululemon Athletica’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts anticipate that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Institutional Trading of Lululemon Athletica

A number of institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Lululemon Athletica by 95.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after purchasing an additional 2,371,079 shares in the last quarter. Mawer Investment Management Ltd. purchased a new position in shares of Lululemon Athletica in the fourth quarter worth about $523,520,000. Diamond Hill Capital Management Inc. acquired a new position in Lululemon Athletica during the fourth quarter worth about $370,062,000. Alliancebernstein L.P. grew its stake in Lululemon Athletica by 14.9% during the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after acquiring an additional 571,657 shares in the last quarter. Finally, Capital World Investors raised its holdings in Lululemon Athletica by 34.6% in the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock valued at $827,338,000 after acquiring an additional 556,406 shares during the last quarter. 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.