Bank of America Has Lowered Expectations for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price target cut by investment analysts at Bank of America from $480.00 to $400.00 in a research report issued on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. Bank of America‘s price objective would indicate a potential upside of 36.49% from the company’s current price.

Several other equities analysts have also recently weighed in on LULU. Truist Financial increased their price objective on shares of Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a report on Monday, December 9th. William Blair reaffirmed an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Wells Fargo & Company boosted their target price on shares of Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Finally, Citigroup cut their target price on shares of Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $293.06 on Friday. The firm has a market cap of $35.69 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. The business has a 50-day simple moving average of $364.63 and a two-hundred day simple moving average of $339.62. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.85 by $0.29. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.29 EPS. As a group, research analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Investors Weigh In On Lululemon Athletica

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

Lululemon Athletica Company Profile

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.