Bank of America Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its target price dropped by equities research analysts at Bank of America from $480.00 to $400.00 in a research note issued on Friday, MarketBeat reports. The firm currently has a “buy” rating on the apparel retailer’s stock. Bank of America‘s price target suggests a potential upside of 36.49% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company increased their price target on shares of Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Telsey Advisory Group reduced their target price on shares of Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating on the stock in a report on Friday. Piper Sandler boosted their price target on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Truist Financial upped their price target on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Citigroup decreased their price objective on Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.72.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $293.06 on Friday. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32. The firm’s fifty day moving average price is $364.63 and its 200-day moving average price is $339.62. The stock has a market cap of $35.69 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.85 by $0.29. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $5.29 earnings per share. On average, analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew 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. Mawer Investment Management Ltd. purchased a new stake in shares of Lululemon Athletica in the 4th quarter worth about $523,520,000. Diamond Hill Capital Management Inc. bought a new position in shares of Lululemon Athletica in the 4th quarter worth about $370,062,000. Alliancebernstein L.P. lifted its position 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 acquiring an additional 571,657 shares during the period. Finally, Capital World Investors boosted its stake in Lululemon Athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock worth $827,338,000 after acquiring an additional 556,406 shares in the last quarter. Institutional investors 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.