Lululemon Athletica (NASDAQ:LULU) PT Lowered to $420.00 at TD Cowen

Lululemon Athletica (NASDAQ:LULU) had its price target decreased by TD Cowen from $447.00 to $420.00 in a research report report published on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the apparel retailer’s stock.

Other equities analysts have also recently issued research reports about the stock. Sanford C. Bernstein boosted their price target on shares of Lululemon Athletica from $376.00 to $382.00 and gave the company a market perform rating in a research report on Friday, June 7th. UBS Group reduced their target price on Lululemon Athletica from $475.00 to $385.00 and set a neutral rating on the stock in a report on Wednesday, May 22nd. Evercore ISI decreased their target price on Lululemon Athletica from $515.00 to $400.00 in a research report on Wednesday, June 5th. BMO Capital Markets dropped their price target on Lululemon Athletica from $420.00 to $384.00 and set a market perform rating on the stock in a research report on Thursday, June 6th. Finally, HSBC raised Lululemon Athletica from a hold rating to a buy rating and upped their price target for the stock from $405.00 to $425.00 in a research note on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $416.26.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $253.50 on Thursday. The stock has a market cap of $31.69 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26. Lululemon Athletica has a fifty-two week low of $245.59 and a fifty-two week high of $516.39. The stock has a 50 day simple moving average of $300.18 and a two-hundred day simple moving average of $377.32.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.28 earnings per share. Sell-side analysts predict that Lululemon Athletica will post 14.29 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a share repurchase plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Lululemon Athletica

Large investors have recently made changes to their positions in the stock. Fort Pitt Capital Group LLC lifted its position in Lululemon Athletica by 41.8% during the second quarter. Fort Pitt Capital Group LLC now owns 238,730 shares of the apparel retailer’s stock valued at $71,309,000 after purchasing an additional 70,378 shares during the period. Kintegral Advisory LLC raised its stake in Lululemon Athletica by 21.8% during the 2nd quarter. Kintegral Advisory LLC now owns 2,107 shares of the apparel retailer’s stock valued at $629,000 after buying an additional 377 shares during the last quarter. McClarren Financial Advisors Inc. lifted its holdings in shares of Lululemon Athletica by 29,700.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 298 shares of the apparel retailer’s stock valued at $89,000 after buying an additional 297 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Lululemon Athletica by 116.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 24,724 shares of the apparel retailer’s stock worth $7,385,000 after buying an additional 13,312 shares during the last quarter. Finally, Crew Capital Management Ltd. grew its holdings in shares of Lululemon Athletica by 15.5% in the second quarter. Crew Capital Management Ltd. now owns 1,949 shares of the apparel retailer’s stock worth $582,000 after acquiring an additional 262 shares during the period. 85.20% of the stock is currently owned by institutional investors.

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.