Morgan Stanley Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $373.00

Lululemon Athletica (NASDAQ:LULU) had its target price dropped by stock analysts at Morgan Stanley from $411.00 to $373.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s target price indicates a potential upside of 9.21% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reduced their price objective on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating for the company in a research report on Wednesday. TD Cowen boosted their price target on Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. KeyCorp raised their target price on Lululemon Athletica from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Raymond James reaffirmed a “market perform” rating on shares of Lululemon Athletica in a report on Friday. Finally, Bank of America lowered their target price on Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $391.28.

Lululemon Athletica Price Performance

LULU opened at $341.53 on Friday. The firm has a 50 day simple moving average of $366.25 and a 200 day simple moving average of $338.67. The company has a market cap of $41.59 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.85 by $0.29. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.29 EPS. As a group, analysts expect that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Trading of Lululemon Athletica

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investment Partners Asset Management Inc. bought a new position in Lululemon Athletica during the 4th quarter valued at $275,000. Rockefeller Capital Management L.P. boosted its holdings in Lululemon Athletica by 50.5% during the third quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock worth $28,070,000 after purchasing an additional 34,704 shares during the last quarter. 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 worth $1,032,000 after purchasing an additional 1,565 shares in the last quarter. Montag A & Associates Inc. increased its stake in Lululemon Athletica by 495.1% in 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 last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $17,775,000. 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.