Lululemon Athletica (NASDAQ:LULU) Given New $420.00 Price Target at BTIG Research

Lululemon Athletica (NASDAQ:LULU) had its price target lowered by BTIG Research from $470.00 to $420.00 in a research report sent to investors on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the apparel retailer’s stock.

Other research analysts have also recently issued reports about the company. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Piper Sandler reduced their price objective on shares of Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday. Telsey Advisory Group dropped their target price on shares of Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a research report on Friday. Morgan Stanley reduced their price target on shares of Lululemon Athletica from $411.00 to $373.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Guggenheim boosted their price target on shares of Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Price Performance

LULU opened at $293.06 on Friday. The company has a 50 day simple moving average of $364.63 and a two-hundred day simple moving average of $338.98. The firm has a market cap of $35.69 billion, a P/E ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last issued its 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. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.29 EPS. Equities analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current year.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds have recently added to or reduced their stakes in the company. Investment Partners Asset Management Inc. purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at approximately $275,000. Rockefeller Capital Management L.P. boosted its holdings in Lululemon Athletica by 50.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after acquiring an additional 34,704 shares during the period. Lebenthal Global Advisors LLC boosted its holdings in Lululemon Athletica by 138.1% during the 4th quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock valued at $1,032,000 after acquiring an additional 1,565 shares during the period. Montag A & Associates Inc. grew its position in Lululemon Athletica by 495.1% in the 4th quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock valued at $1,627,000 after acquiring an additional 3,540 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new stake in Lululemon Athletica in the fourth quarter worth $17,775,000. 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.