Sanford C. Bernstein Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $325.00

Lululemon Athletica (NASDAQ:LULU) had its price target lowered by Sanford C. Bernstein from $345.00 to $325.00 in a research report report published on Friday, BayStreet.CA reports. Sanford C. Bernstein currently has a market perform rating on the apparel retailer’s stock.

Several other research firms also recently weighed in on LULU. TD Cowen dropped their target price on Lululemon Athletica from $420.00 to $375.00 and set a buy rating for the company in a research report on Tuesday, August 27th. Telsey Advisory Group cut their target price on shares of Lululemon Athletica from $470.00 to $360.00 and set an outperform rating on the stock in a research note on Monday, August 26th. Raymond James reduced their target price on shares of Lululemon Athletica from $400.00 to $350.00 and set an outperform rating on the stock in a report on Tuesday, August 27th. Bank of America cut their price objective on Lululemon Athletica from $440.00 to $355.00 and set a buy rating on the stock in a research report on Friday. Finally, BMO Capital Markets decreased their target price on Lululemon Athletica from $420.00 to $384.00 and set a market perform rating for the company in a report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $355.74.

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $259.47 on Friday. The firm has a market cap of $32.43 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.40 and a beta of 1.26. The firm’s 50 day moving average price is $271.56 and its 200-day moving average price is $338.17. Lululemon Athletica has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.69% and a net margin of 16.34%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the firm earned $2.68 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, research analysts predict that Lululemon Athletica will post 13.9 EPS for the current fiscal year.

Lululemon Athletica declared that its board has initiated a stock repurchase program on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors have recently added to or reduced their stakes in the business. Choreo LLC lifted its holdings in shares of Lululemon Athletica by 24.5% in the 4th quarter. Choreo LLC now owns 803 shares of the apparel retailer’s stock valued at $411,000 after buying an additional 158 shares during the period. Brighton Jones LLC lifted its holdings in Lululemon Athletica by 13.5% in the fourth quarter. Brighton Jones LLC now owns 731 shares of the apparel retailer’s stock valued at $374,000 after acquiring an additional 87 shares during the period. Savant Capital LLC boosted its position in shares of Lululemon Athletica by 18.1% during the 4th quarter. Savant Capital LLC now owns 888 shares of the apparel retailer’s stock worth $454,000 after purchasing an additional 136 shares in the last quarter. New York Life Investment Management LLC grew its stake in shares of Lululemon Athletica by 965.1% during the 4th quarter. New York Life Investment Management LLC now owns 17,905 shares of the apparel retailer’s stock worth $9,155,000 after purchasing an additional 16,224 shares during the period. Finally, Great Valley Advisor Group Inc. increased its holdings in shares of Lululemon Athletica by 46.6% in the 4th quarter. Great Valley Advisor Group Inc. now owns 3,670 shares of the apparel retailer’s stock valued at $1,876,000 after purchasing an additional 1,166 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

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.