Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $315.00

Lululemon Athletica (NASDAQ:LULU) had its price objective decreased by investment analysts at UBS Group from $385.00 to $315.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. UBS Group’s target price would indicate a potential upside of 18.59% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group reissued an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a report on Thursday, July 25th. Bank of America lifted their price target on shares of Lululemon Athletica from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Wells Fargo & Company reduced their price objective on Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating for the company in a research note on Thursday, June 6th. Truist Financial cut their price target on Lululemon Athletica from $415.00 to $310.00 and set a “buy” rating for the company in a report on Friday, July 26th. Finally, Stifel Nicolaus upped their price target on Lululemon Athletica from $410.00 to $416.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $402.00.

Lululemon Athletica Trading Up 1.9 %

NASDAQ:LULU opened at $265.63 on Tuesday. The company has a market cap of $33.20 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. The company has a 50 day simple moving average of $278.03 and a two-hundred day simple moving average of $348.71. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted $2.28 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. Research analysts forecast that Lululemon Athletica will post 14.22 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has approved a share buyback plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Lululemon Athletica

Large investors have recently added to or reduced their stakes in the stock. Tidemark LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new position in Lululemon Athletica during the fourth quarter valued at $26,000. Richardson Financial Services Inc. bought a new stake in shares of Lululemon Athletica in the 4th quarter worth about $31,000. True Wealth Design LLC boosted its stake in shares of Lululemon Athletica by 2,950.0% during the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 59 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 44 shares during the last quarter. 85.20% of the stock is 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.