Lululemon Athletica (NASDAQ:LULU) Price Target Lowered to $470.00 at Robert W. Baird

Lululemon Athletica (NASDAQ:LULU) had its price target trimmed by Robert W. Baird from $505.00 to $470.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the apparel retailer’s stock.

LULU has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reissued a hold rating and issued a $357.00 price target on shares of Lululemon Athletica in a report on Thursday, June 13th. Wedbush lifted their price target on shares of Lululemon Athletica from $397.00 to $400.00 and gave the stock an outperform rating in a research note on Thursday, June 6th. Jefferies Financial Group cut their price target on shares of Lululemon Athletica from $300.00 to $240.00 and set an underperform rating on the stock in a report on Thursday, April 4th. HSBC raised shares of Lululemon Athletica from a hold rating to a buy rating and raised their price objective for the stock from $405.00 to $425.00 in a report on Thursday, June 6th. Finally, TD Cowen upped their target price on shares of Lululemon Athletica from $437.00 to $447.00 and gave the company a buy rating in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $431.94.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $300.32 on Wednesday. Lululemon Athletica has a one year low of $293.03 and a one year high of $516.39. The stock’s 50 day moving average price is $324.62 and its 200 day moving average price is $404.18. The firm has a market capitalization of $37.54 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $2.28 earnings per share. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, analysts forecast that Lululemon Athletica will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has authorized a share repurchase program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds have recently modified their holdings of LULU. Valley National Advisers Inc. grew its holdings in Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Tidemark LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $26,000. Benjamin Edwards Inc. lifted its stake in Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 44 shares during the last quarter. Finally, Riverview Trust Co acquired a new stake in Lululemon Athletica during the first quarter valued at approximately $29,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.