Morgan Stanley Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $411.00

Lululemon Athletica (NASDAQ:LULU) had its price target decreased by investment analysts at Morgan Stanley from $420.00 to $411.00 in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s target price indicates a potential upside of 26.68% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets upped their target price on shares of Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $438.00 target price (up from $370.00) on shares of Lululemon Athletica in a report on Friday, December 6th. William Blair reaffirmed an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Raymond James reiterated an “outperform” rating and set a $430.00 price target (up from $400.00) on shares of Lululemon Athletica in a research note on Wednesday, January 15th. Finally, TD Securities boosted their price target on shares of Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average target price of $397.10.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $324.45 on Wednesday. The company has a 50-day simple moving average of $371.38 and a 200-day simple moving average of $335.94. Lululemon Athletica has a one year low of $226.01 and a one year high of $480.94. The stock has a market capitalization of $39.51 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 2.22 and a beta of 1.21.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the sale, the insider now owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently modified their holdings of the company. Investment Partners Asset Management Inc. purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at approximately $275,000. Rockefeller Capital Management L.P. lifted its stake in shares of 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 valued at $28,070,000 after buying an additional 34,704 shares during the period. Lebenthal Global Advisors LLC lifted its stake in shares of Lululemon Athletica by 138.1% during the fourth quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock valued at $1,032,000 after buying an additional 1,565 shares during the period. Montag A & Associates Inc. lifted its stake in shares of Lululemon Athletica by 495.1% during the fourth 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 period. Finally, Northeast Investment Management purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at approximately $276,000. 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.