Robert W. Baird Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price objective dropped by equities research analysts at Robert W. Baird from $450.00 to $370.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the apparel retailer’s stock. Robert W. Baird’s target price indicates a potential upside of 40.31% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. BTIG Research lowered their price objective on Lululemon Athletica from $470.00 to $420.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Barclays decreased their price target on shares of Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Needham & Company LLC cut their target price on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. UBS Group decreased their price target on Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating for the company in a research note on Friday, March 28th. Finally, Stifel Nicolaus cut their price objective on Lululemon Athletica from $438.00 to $424.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average price target of $378.31.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $263.70 on Friday. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32. The stock’s 50 day moving average price is $353.59 and its 200 day moving average price is $339.97. The firm has a market capitalization of $32.11 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31.

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 net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the business earned $5.29 EPS. The business’s revenue was up 12.3% on a year-over-year basis. On average, analysts forecast that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Trading of Lululemon Athletica

Large investors have recently added to or reduced their stakes in the business. Investment Partners Asset Management Inc. bought a new position in shares of Lululemon Athletica in the fourth quarter worth $275,000. Lebenthal Global Advisors LLC grew its position in Lululemon Athletica by 138.1% in the 4th quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock valued at $1,032,000 after buying an additional 1,565 shares in the last quarter. Montag A & Associates Inc. increased its stake in Lululemon Athletica by 495.1% during the 4th quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock valued at $1,627,000 after buying an additional 3,540 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in shares of Lululemon Athletica during the 4th quarter worth about $17,775,000. Finally, Northeast Investment Management acquired a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $276,000. 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.