Lululemon Athletica (NASDAQ:LULU) Given New $505.00 Price Target at Robert W. Baird

Lululemon Athletica (NASDAQ:LULU) had its target price cut by Robert W. Baird from $555.00 to $505.00 in a research note released on Friday, Marketbeat Ratings reports. They currently have an outperform rating on the apparel retailer’s stock.

LULU has been the topic of a number of other research reports. Needham & Company LLC dropped their price target on Lululemon Athletica from $525.00 to $500.00 and set a buy rating on the stock in a research note on Friday, March 22nd. Citigroup lowered their target price on Lululemon Athletica from $520.00 to $500.00 and set a buy rating on the stock in a research note on Friday, March 22nd. Evercore ISI lowered their target price on Lululemon Athletica from $575.00 to $515.00 and set an outperform rating on the stock in a research note on Friday, March 22nd. Wells Fargo & Company lowered their target price on Lululemon Athletica from $450.00 to $425.00 and set an equal weight rating on the stock in a research note on Friday, March 22nd. Finally, HSBC lowered their target price on Lululemon Athletica from $500.00 to $405.00 in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $483.61.

Lululemon Athletica Trading Up 1.4 %

Shares of Lululemon Athletica stock opened at $352.47 on Friday. The company’s 50-day moving average price is $420.09 and its two-hundred day moving average price is $438.41. The stock has a market cap of $44.41 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 1.23 and a beta of 1.30. Lululemon Athletica has a 52 week low of $326.93 and a 52 week 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, topping analysts’ consensus estimates of $5.00 by $0.29. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. Lululemon Athletica’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $4.40 EPS. On average, equities analysts predict that Lululemon Athletica will post 14.15 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. RBA Wealth Management LLC lifted its holdings in shares of Lululemon Athletica by 4.0% during the first quarter. RBA Wealth Management LLC now owns 9,315 shares of the apparel retailer’s stock worth $3,639,000 after buying an additional 358 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Lululemon Athletica by 16.5% during the first quarter. First Trust Direct Indexing L.P. now owns 1,882 shares of the apparel retailer’s stock worth $735,000 after buying an additional 267 shares during the last quarter. Norden Group LLC acquired a new position in shares of Lululemon Athletica during the first quarter worth approximately $2,412,000. Valeo Financial Advisors LLC lifted its holdings in shares of Lululemon Athletica by 110.0% during the first quarter. Valeo Financial Advisors LLC now owns 3,623 shares of the apparel retailer’s stock worth $1,415,000 after buying an additional 1,898 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its holdings in shares of Lululemon Athletica by 0.9% during the first quarter. Azzad Asset Management Inc. ADV now owns 10,005 shares of the apparel retailer’s stock worth $3,909,000 after buying an additional 87 shares during the last quarter. 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.