Wells Fargo & Company Has Lowered Expectations for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price objective dropped by Wells Fargo & Company from $375.00 to $315.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage currently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 7.49% from the stock’s previous close.

LULU has been the subject of several other research reports. TD Securities increased their price target on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Telsey Advisory Group lowered their target price on shares of Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating on the stock in a research note on Friday. Citigroup reduced their price target 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. TD Cowen raised their price objective on shares of Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Stock Down 14.2 %

Shares of NASDAQ:LULU opened at $293.06 on Friday. The company’s 50-day moving average price is $364.63 and its 200 day moving average price is $339.62. The company has a market cap of $35.69 billion, a PE ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21. 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 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 company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the company posted $5.29 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts anticipate that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors have recently bought and sold shares of LULU. Fairtree Asset Management Pty Ltd purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $497,000. 111 Capital acquired a new position in Lululemon Athletica in the 4th quarter valued at approximately $3,362,000. NorthCrest Asset Manangement LLC lifted its position in Lululemon Athletica by 6.3% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,198 shares of the apparel retailer’s stock worth $458,000 after buying an additional 71 shares in the last quarter. PKO Investment Management Joint Stock Co acquired a new stake in shares of Lululemon Athletica during the 4th quarter valued at $1,912,000. Finally, Wealthedge Investment Advisors LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at $1,257,000. 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.