Lululemon Athletica (NASDAQ:LULU) Price Target Lowered to $463.00 at The Goldman Sachs Group

Lululemon Athletica (NASDAQ:LULU) had its price target lowered by The Goldman Sachs Group from $521.00 to $463.00 in a report issued on Friday, Benzinga reports. The firm currently has a buy rating on the apparel retailer’s stock.

A number of other brokerages have also recently issued reports on LULU. HSBC dropped their target price on shares of Lululemon Athletica from $500.00 to $405.00 in a research report on Wednesday, April 10th. BTIG Research started coverage on shares of Lululemon Athletica in a research report on Wednesday, May 8th. They set a buy rating and a $425.00 target price for the company. Oppenheimer reiterated an outperform rating and set a $445.00 target price (down previously from $540.00) on shares of Lululemon Athletica in a research report on Friday, April 5th. Citigroup dropped their target price on shares of Lululemon Athletica from $520.00 to $500.00 and set a buy rating for the company in a research report on Friday, March 22nd. Finally, Morgan Stanley lowered their price objective on shares of Lululemon Athletica from $539.00 to $490.00 and set an overweight rating for the company in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $465.13.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU traded up $3.27 during trading hours on Friday, hitting $303.01. 2,284,014 shares of the stock were exchanged, compared to its average volume of 2,217,502. The company’s 50 day moving average is $363.48 and its 200 day moving average is $430.65. The firm has a market capitalization of $38.18 billion, a P/E ratio of 24.82, a P/E/G ratio of 1.35 and a beta of 1.30. Lululemon Athletica has a one year low of $295.28 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the firm earned $4.40 EPS. The business’s revenue was up 15.6% on a year-over-year basis. Research analysts anticipate that Lululemon Athletica will post 14.11 earnings per share for the current fiscal year.

Insider Transactions at Lululemon Athletica

In related news, Director Martha A. M. Morfitt purchased 700 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at $194,645. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Lululemon Athletica

Several hedge funds and other institutional investors have recently modified their holdings of LULU. Valley National Advisers Inc. boosted its holdings in Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Tidemark LLC acquired a new position in Lululemon Athletica in the 4th quarter worth $26,000. Scarborough Advisors LLC bought a new position in Lululemon Athletica in the 4th quarter valued at about $26,000. Morton Brown Family Wealth LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $31,000. Finally, Richardson Financial Services Inc. bought a new position in Lululemon Athletica in the fourth quarter valued at approximately $31,000. 85.20% of the stock is currently owned by hedge funds and other 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.