Wells Fargo & Company Has Lowered Expectations for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price target cut by Wells Fargo & Company from $375.00 to $315.00 in a research note released on Friday, MarketBeat.com reports. They currently have an equal weight rating on the apparel retailer’s stock.

Several other brokerages have also recently issued reports on LULU. Needham & Company LLC lowered their price objective on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets upped their price target on Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $360.00 to $460.00 in a report on Tuesday, January 7th. Finally, TD Cowen raised their price target on shares of Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Two 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $380.72.

Lululemon Athletica Stock Down 14.2 %

Shares of NASDAQ:LULU opened at $293.06 on Friday. The company has a market cap of $35.69 billion, a P/E ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21. The business has a fifty day simple moving average of $364.63 and a 200-day simple moving average of $338.98. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $5.29 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Trading of Lululemon Athletica

Institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Lululemon Athletica by 95.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after acquiring an additional 2,371,079 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Lululemon Athletica by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock worth $1,681,682,000 after purchasing an additional 571,657 shares during the period. Geode Capital Management LLC increased its stake in Lululemon Athletica by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer’s stock valued at $947,682,000 after purchasing an additional 10,461 shares during the last quarter. Capital World Investors lifted its position in shares of Lululemon Athletica by 34.6% in the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock worth $827,338,000 after buying an additional 556,406 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Lululemon Athletica by 31.0% in the 4th quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock valued at $681,163,000 after buying an additional 421,890 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.