Lululemon Athletica Inc. (NASDAQ:LULU – Get Free Report)’s stock price gapped down prior to trading on Wednesday after Wedbush lowered their price target on the stock from $492.00 to $397.00. The stock had previously closed at $322.98, but opened at $306.91. Wedbush currently has an outperform rating on the stock. Lululemon Athletica shares last traded at $302.74, with a volume of 1,035,551 shares changing hands.
LULU has been the subject of several other reports. Citigroup cut their price objective on Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Oppenheimer restated an “outperform” rating and set a $445.00 price objective (down from $540.00) on shares of Lululemon Athletica in a research report on Friday, April 5th. Telsey Advisory Group restated an “outperform” rating and set a $550.00 price objective on shares of Lululemon Athletica in a research report on Wednesday. Evercore ISI lowered their target price on shares of Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, UBS Group lowered their target price on shares of Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $468.59.
Insiders Place Their Bets
In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average cost of $389.29 per share, with a total value of $272,503.00. Following the completion of the purchase, the director now directly owns 500 shares in the company, valued at $194,645. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter worth $1,114,000. Rockline Wealth Management LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter worth $1,503,000. Envestnet Asset Management Inc. increased its stake in shares of Lululemon Athletica by 30.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 189,953 shares of the apparel retailer’s stock worth $73,248,000 after purchasing an additional 44,141 shares during the last quarter. Blair William & Co. IL grew its stake in Lululemon Athletica by 1.9% in the 3rd quarter. Blair William & Co. IL now owns 290,658 shares of the apparel retailer’s stock valued at $112,081,000 after buying an additional 5,403 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in Lululemon Athletica by 10.9% in the 4th quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock valued at $871,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.
Lululemon Athletica Stock Performance
The business’s 50 day moving average is $373.44 and its 200-day moving average is $433.23. The firm has a market capitalization of $37.76 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30.
Lululemon Athletica (NASDAQ:LULU – Get Free Report) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the firm earned $4.40 EPS. The business’s revenue was up 15.6% on a year-over-year basis. Equities research analysts forecast that Lululemon Athletica Inc. will post 14.15 EPS for the current fiscal year.
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.