Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $314.00 by Analysts at Morgan Stanley

Lululemon Athletica (NASDAQ:LULU) had its target price decreased by Morgan Stanley from $326.00 to $314.00 in a research note published on Tuesday morning, Marketbeat reports. Morgan Stanley currently has an overweight rating on the apparel retailer’s stock.

A number of other analysts have also issued reports on LULU. Robert W. Baird cut their price target on shares of Lululemon Athletica from $470.00 to $350.00 and set an outperform rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their target price on shares of Lululemon Athletica from $350.00 to $285.00 and set an equal weight rating on the stock in a report on Friday, August 23rd. Citigroup reduced their price objective on Lululemon Athletica from $300.00 to $270.00 and set a neutral rating on the stock in a research note on Thursday, August 22nd. Evercore ISI restated an outperform rating and set a $300.00 price target on shares of Lululemon Athletica in a report on Monday, August 26th. Finally, Sanford C. Bernstein lowered their price objective on Lululemon Athletica from $345.00 to $325.00 and set a market perform rating for the company in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of Moderate Buy and an average target price of $354.55.

Lululemon Athletica Price Performance

Shares of LULU opened at $270.38 on Tuesday. The firm has a 50-day simple moving average of $257.52 and a two-hundred day simple moving average of $305.88. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $516.39. The stock has a market cap of $33.80 billion, a PE ratio of 21.68, a P/E/G ratio of 1.40 and a beta of 1.25.

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 42.59% 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, sell-side analysts expect that Lululemon Athletica will post 14.03 earnings per share for the current fiscal year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicole Neuburger sold 486 shares of the firm’s 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 completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Moody National Bank Trust Division boosted its stake in shares of Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after acquiring an additional 29 shares in the last quarter. Graypoint LLC increased its position in Lululemon Athletica by 5.1% during the first quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock worth $273,000 after buying an additional 34 shares in the last quarter. William Allan Corp raised its holdings in shares of Lululemon Athletica by 0.8% in the first quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock worth $1,913,000 after acquiring an additional 37 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Lululemon Athletica by 2.1% in the first quarter. Bleakley Financial Group LLC now owns 1,889 shares of the apparel retailer’s stock valued at $738,000 after acquiring an additional 38 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of 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 acquiring an additional 40 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.