BTIG Research Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its target price cut by BTIG Research from $470.00 to $420.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the apparel retailer's stock. BTIG Research's price target indicates a potential upside of 43.32% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Raymond James reissued a "market perform" rating and set a $430.00 price objective on shares of Lululemon Athletica in a research note on Friday. JPMorgan Chase & Co. cut their target price on Lululemon Athletica from $437.00 to $391.00 and set an "overweight" rating on the stock in a research report on Friday. Evercore ISI raised their price target on Lululemon Athletica from $440.00 to $495.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Truist Financial cut their price objective on shares of Lululemon Athletica from $460.00 to $380.00 and set a "buy" rating on the stock in a research report on Friday. Finally, TD Cowen raised their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of "Moderate Buy" and a consensus price target of $380.72.

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Lululemon Athletica Stock Down 14.2 %

NASDAQ LULU traded down $48.47 during trading on Friday, hitting $293.06. 12,900,347 shares of the stock traded hands, compared to its average volume of 2,144,794. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $423.32. The firm has a 50-day simple moving average of $364.63 and a 200-day simple moving average of $340.22. The company has a market capitalization of $35.69 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

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

Hedge Funds Weigh In On Lululemon Athletica

Several institutional investors and hedge funds have recently added to or reduced their stakes in LULU. Beacon Capital Management LLC raised its stake in shares of Lululemon Athletica by 6.9% during the 4th quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer's stock worth $142,000 after acquiring an additional 24 shares in the last quarter. Edgestream Partners L.P. grew its holdings in Lululemon Athletica by 0.7% in the fourth quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer's stock worth $1,353,000 after purchasing an additional 25 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in shares of Lululemon Athletica by 2.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer's stock worth $389,000 after purchasing an additional 26 shares in the last quarter. Dnca Finance lifted its holdings in shares of Lululemon Athletica by 15.1% during the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer's stock valued at $76,000 after purchasing an additional 26 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Lululemon Athletica by 9.4% in the 4th quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer's stock worth $124,000 after purchasing an additional 28 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.