The Goldman Sachs Group Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $302.00

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its target price reduced by The Goldman Sachs Group from $363.00 to $302.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the apparel retailer's stock. The Goldman Sachs Group's target price would suggest a potential upside of 15.02% from the stock's current price.

Other equities analysts also recently issued research reports about the company. Morgan Stanley decreased their target price on Lululemon Athletica from $411.00 to $373.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. BTIG Research lowered their price objective on Lululemon Athletica from $470.00 to $420.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Oppenheimer lifted their target price on Lululemon Athletica from $380.00 to $500.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Truist Financial decreased their price target on shares of Lululemon Athletica from $380.00 to $297.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, William Blair reiterated an "outperform" rating on shares of Lululemon Athletica in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.28.

Lululemon Athletica Price Performance

NASDAQ:LULU traded up $8.65 on Tuesday, hitting $262.56. 259,374 shares of the company's stock were exchanged, compared to its average volume of 2,218,403. The firm has a 50-day moving average price of $314.51 and a 200-day moving average price of $339.12. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The company has a market cap of $31.67 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the company earned $5.29 earnings per share. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, research analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors have recently bought and sold shares of LULU. TCTC Holdings LLC purchased a new stake in Lululemon Athletica in the fourth quarter worth about $26,000. Anderson Financial Strategies LLC bought a new stake in Lululemon Athletica during the 4th quarter worth approximately $30,000. Kestra Investment Management LLC bought a new stake in Lululemon Athletica during the 4th quarter worth approximately $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Lululemon Athletica during the fourth quarter valued at approximately $32,000. Finally, Sound Income Strategies LLC boosted its position in shares of Lululemon Athletica by 309.5% in the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer's stock worth $33,000 after purchasing an additional 65 shares during the period. 85.20% of the stock is owned by institutional investors.

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.

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