Lululemon Athletica (NASDAQ:LULU) Price Target Lowered to $300.00 at Morgan Stanley

Lululemon Athletica (NASDAQ:LULU) had its target price decreased by Morgan Stanley from $404.00 to $300.00 in a research report released on Tuesday morning, Analyst Price Targets reports. Morgan Stanley currently has an equal weight rating on the apparel retailer’s stock.

Several other equities analysts have also issued reports on the company. Citigroup decreased their price target on Lululemon Athletica from $435.00 to $400.00 in a research note on Tuesday. Cowen reduced their price objective on Lululemon Athletica from $520.00 to $515.00 and set an outperform rating on the stock in a research report on Wednesday, December 8th. Piper Sandler boosted their price objective on Lululemon Athletica from $481.00 to $487.00 and gave the stock an overweight rating in a research report on Friday, December 10th. Telsey Advisory Group reduced their price objective on Lululemon Athletica from $515.00 to $470.00 and set an outperform rating on the stock in a research report on Tuesday. Finally, Truist Securities began coverage on Lululemon Athletica in a research report on Thursday, December 16th. They set a hold rating and a $435.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $448.96.

Shares of LULU opened at $328.98 on Tuesday. Lululemon Athletica has a 52-week low of $269.28 and a 52-week high of $485.83. The business’s fifty day moving average is $415.38 and its 200-day moving average is $408.65. The firm has a market cap of $42.53 billion, a price-to-earnings ratio of 49.40, a PEG ratio of 2.38 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 9th. The apparel retailer reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.21. Lululemon Athletica had a return on equity of 34.83% and a net margin of 14.86%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company posted $1.16 EPS. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities analysts expect that Lululemon Athletica will post 7.71 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of Lululemon Athletica by 59.9% in the 3rd quarter. Victory Capital Management Inc. now owns 523,562 shares of the apparel retailer’s stock valued at $211,886,000 after purchasing an additional 196,043 shares during the period. Forte Capital LLC ADV lifted its stake in shares of Lululemon Athletica by 13.7% in the 3rd quarter. Forte Capital LLC ADV now owns 27,078 shares of the apparel retailer’s stock valued at $10,958,000 after purchasing an additional 3,266 shares during the period. Wills Financial Group Inc. acquired a new position in shares of Lululemon Athletica in the 2nd quarter valued at about $225,000. Worldquant Millennium Advisors LLC lifted its stake in shares of Lululemon Athletica by 35.8% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 42,133 shares of the apparel retailer’s stock valued at $15,377,000 after purchasing an additional 11,103 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Lululemon Athletica by 19.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 7,683 shares of the apparel retailer’s stock valued at $3,109,000 after purchasing an additional 1,260 shares during the period. 81.56% of the stock is currently owned by institutional investors.

About Lululemon Athletica

lululemon athletica, Inc engages in the designing, distributing and retail of athletic apparel and accessories. It company operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize in athletic wear for female youth.

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Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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