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

Lululemon Athletica (NASDAQ:LULU - Free Report) had its price target reduced by Oppenheimer from $445.00 to $380.00 in a report issued on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the apparel retailer's stock.

Several other brokerages also recently issued reports on LULU. Sanford C. Bernstein cut 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. Barclays cut their price target on Lululemon Athletica from $263.00 to $261.00 and set an "equal weight" rating for the company in a report on Friday, August 30th. Robert W. Baird lifted their price objective on Lululemon Athletica from $350.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Guggenheim reduced their target price on shares of Lululemon Athletica from $525.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, August 30th. Finally, Stifel Nicolaus lowered their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $356.03.

Lululemon Athletica Stock Performance

LULU stock traded up $0.68 during midday trading on Wednesday, hitting $319.52. 1,126,273 shares of the stock were exchanged, compared to its average volume of 2,080,802. The stock's 50-day moving average price is $294.07 and its 200-day moving average price is $287.62. The stock has a market cap of $39.23 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 2.38 and a beta of 1.24. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $2.68 earnings per share. Research analysts anticipate that Lululemon Athletica will post 14.02 EPS for the current year.

Insider Activity at Lululemon Athletica

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. The trade was a 4.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction on Thursday, September 26th. The stock was 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 directly owns 6,198 shares of the company's stock, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its stake in Lululemon Athletica by 6.9% in the first quarter. Advisors Asset Management Inc. now owns 1,433 shares of the apparel retailer's stock valued at $560,000 after buying an additional 92 shares during the last quarter. Tidal Investments LLC lifted its position in Lululemon Athletica by 655.9% in the 1st quarter. Tidal Investments LLC now owns 8,194 shares of the apparel retailer's stock valued at $3,201,000 after purchasing an additional 7,110 shares during the last quarter. LBP AM SA bought a new position in Lululemon Athletica in the 1st quarter worth about $727,000. Citizens Financial Group Inc. RI increased its stake in shares of Lululemon Athletica by 12.4% in the first quarter. Citizens Financial Group Inc. RI now owns 763 shares of the apparel retailer's stock valued at $298,000 after purchasing an additional 84 shares during the period. Finally, Swedbank AB acquired a new position in shares of Lululemon Athletica during the first quarter worth approximately $19,103,000. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Company Profile

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.