Morgan Stanley Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $411.00

Lululemon Athletica (NASDAQ:LULU) had its target price trimmed by Morgan Stanley from $420.00 to $411.00 in a research note published on Wednesday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the apparel retailer’s stock.

A number of other brokerages also recently issued reports on LULU. JPMorgan Chase & Co. lifted their price target on shares of Lululemon Athletica from $428.00 to $437.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Needham & Company LLC raised Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 target price on the stock in a report on Friday, January 10th. Oppenheimer boosted their target price on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Guggenheim lifted their price objective on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup upped their price objective on Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $397.10.

Lululemon Athletica Trading Down 0.6 %

NASDAQ LULU opened at $322.62 on Wednesday. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The stock has a market cap of $39.29 billion, a PE ratio of 23.29, a P/E/G ratio of 2.22 and a beta of 1.21. The stock’s 50 day moving average is $369.92 and its 200 day moving average is $336.38.

Insiders Place Their Bets

In other news, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently bought and sold shares of LULU. TCTC Holdings LLC bought a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Anderson Financial Strategies LLC purchased a new position in Lululemon Athletica during the 4th quarter valued at about $30,000. Kestra Investment Management LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at about $32,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter worth about $32,000. Finally, Sound Income Strategies LLC grew its holdings in Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 65 shares during the period. 85.20% of the stock is owned by institutional investors.

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.