Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $380.00 by Analysts at Oppenheimer

Lululemon Athletica (NASDAQ:LULU) had its price target cut by Oppenheimer from $445.00 to $380.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the apparel retailer’s stock.

A number of other equities research analysts also recently issued reports on the company. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price objective on shares of Lululemon Athletica in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lifted their price target on Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Morgan Stanley upped their price objective on shares of Lululemon Athletica from $314.00 to $345.00 and gave the stock an “overweight” rating in a research report on Tuesday. Robert W. Baird lifted their target price on shares of Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Barclays decreased their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.03.

Lululemon Athletica Stock Up 0.2 %

LULU stock opened at $319.52 on Wednesday. The stock has a 50-day simple moving average of $295.06 and a two-hundred day simple moving average of $287.84. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $516.39. The firm has a market capitalization of $39.23 billion, a PE ratio of 24.69, a PEG ratio of 2.38 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company earned $2.68 earnings per share. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that Lululemon Athletica will post 14.02 EPS for the current fiscal year.

Insider Activity at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.

Institutional Trading of Lululemon Athletica

Large investors have recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake in shares of Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after purchasing an additional 43 shares during the period. Paladin Wealth LLC purchased a new position in Lululemon Athletica during the third quarter valued at $29,000. Versant Capital Management Inc lifted its position in Lululemon Athletica by 61.5% during the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 40 shares during the period. JFS Wealth Advisors LLC grew its position in shares of Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after buying an additional 65 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of Lululemon Athletica in the 2nd quarter worth about $33,000. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Company Profile

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.