Lululemon Athletica (NASDAQ:LULU) was given a new price target of $350.00 at Raymond James

Lululemon Athletica (NASDAQ:LULU – Get a Free Report) had its target price cut by equities researchers at Raymond James from $400.00 to $350.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the apparel retailer’s stock. Raymond James’ price objective indicates a potential upside of 28.84% from the company’s previous close.

Several other brokerages have also issued reports on LULU. Wells Fargo & Company cut their price target on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday. Jefferies Financial Group reiterated an “underperform” rating and issued a $220.00 target price on shares of Lululemon Athletica in a research note on Thursday, July 25th. Robert W. Baird decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Finally, Piper Sandler restated a “neutral” rating and set a $250.00 price objective on shares of Lululemon Athletica in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $378.90, based on data from MarketBeat.

Read the latest stock report on Lululemon Athletica

Lululemon Athletica trading up 1.2%

LULU opened at $271.66 on Tuesday. The stock has a market cap of $33.96 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.25 and a beta of 1.26. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $516.39. The company’s fifty-day simple moving average is $275.58, and its 200-day simple moving average is $343.83.

Lululemon Athletica (NASDAQ:LULU – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping the consensus estimate of $2.38 by $0.16. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted EPS of $2.28. On average, equities research analysts predict that Lululemon Athletica will post 14.22 EPS for the current fiscal year.

Lululemon Athletica announced that its board has initiated a stock buyback plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This buyback authorization allows the apparel retailer to buy up to 2.5% of its shares through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Lululemon Athletica Institutional Trading

A number of institutional investors and hedge funds have recently made changes to their positions in LULU. Tidemark LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at approximately $26,000. Richardson Financial Services Inc. bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $31,000. True Wealth Design LLC raised its holdings in shares of Lululemon Athletica by 2,950.0% during the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 59 shares. actions during the period. Finally, Benjamin Edwards Inc. raised its position in Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after buying an additional 44 shares in the last quarter. Institutional investors own 85.20% of the company’s shares.

About Lululemon Athletica

(Get a free report)

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes and markets athletic apparel, footwear and accessories under the lululemon brand for women and men. It offers pants, shorts, tops and jackets for a healthy lifestyle such as yoga, running, training and other activities. They also offer fitness-inspired accessories.

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