Robert W. Baird Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $370.00

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by Robert W. Baird from $450.00 to $370.00 in a research note released on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the apparel retailer’s stock.

A number of other equities research analysts have also recently weighed in on LULU. UBS Group reduced their price target on shares of Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating for the company in a research report on Friday, March 28th. Citigroup set a $330.00 price objective on Lululemon Athletica and gave the stock a “negative” rating in a research report on Friday, March 28th. JPMorgan Chase & Co. dropped their target price on Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Oppenheimer raised their target price on shares of Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Sanford C. Bernstein raised Lululemon Athletica from a “market perform” rating to an “outperform” rating and raised their price target for the company from $360.00 to $460.00 in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $378.31.

Lululemon Athletica Stock Up 3.1 %

LULU opened at $263.70 on Friday. The business has a fifty day simple moving average of $353.59 and a 200-day simple moving average of $340.46. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The firm has a market cap of $32.11 billion, a P/E ratio of 19.04, a P/E/G ratio of 2.22 and a beta of 1.31.

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

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds and other institutional investors have recently modified their holdings of LULU. TCTC Holdings LLC acquired a new stake in Lululemon Athletica during the 4th quarter valued at $26,000. Anderson Financial Strategies LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth $30,000. Kestra Investment Management LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth about $32,000. Bradley & Co. Private Wealth Management LLC bought a new position in Lululemon Athletica during the fourth quarter valued at approximately $32,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Lululemon Athletica by 309.5% during the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.