Robert W. Baird Has Lowered Expectations for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by Robert W. Baird from $450.00 to $370.00 in a report issued on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the apparel retailer’s stock.

Other research analysts also recently issued reports about the company. Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $360.00 to $460.00 in a research report on Tuesday, January 7th. Truist Financial reduced their price objective on Lululemon Athletica from $460.00 to $380.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Evercore ISI lifted their price objective on Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on shares of Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Finally, Oppenheimer lifted their price target on shares of Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $378.31.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $263.70 on Friday. The business has a 50 day moving average price of $353.59 and a 200 day moving average price of $339.47. The company has a market capitalization of $32.11 billion, a P/E ratio of 19.04, a PEG ratio of 2.22 and a beta of 1.31. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly 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. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.29 EPS. On average, research analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

Several institutional investors and hedge funds have recently modified their holdings of LULU. Moody National Bank Trust Division lifted its position in Lululemon Athletica by 1.2% during the 1st quarter. Moody National Bank Trust Division now owns 3,168 shares of the apparel retailer’s stock worth $897,000 after acquiring an additional 39 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Lululemon Athletica by 122.4% during the first quarter. Versant Capital Management Inc now owns 407 shares of the apparel retailer’s stock worth $115,000 after purchasing an additional 224 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of Lululemon Athletica in the first quarter valued at $806,000. Fairtree Asset Management Pty Ltd acquired a new stake in Lululemon Athletica during the 4th quarter valued at $497,000. Finally, 111 Capital purchased a new stake in Lululemon Athletica during the 4th quarter worth $3,362,000. Hedge funds and other 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.