Morgan Stanley Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $404.00

Lululemon Athletica (NASDAQ:LULUGet Free Report) had its price objective cut by investment analysts at Morgan Stanley from $490.00 to $404.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s price target indicates a potential upside of 36.83% from the company’s previous close.

A number of other research firms also recently issued reports on LULU. Sanford C. Bernstein reduced their price target on shares of Lululemon Athletica from $384.00 to $376.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. Jefferies Financial Group reduced their price target on shares of Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating for the company in a research report on Thursday, April 4th. Wedbush reduced their price target on shares of Lululemon Athletica from $492.00 to $397.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. UBS Group reduced their price target on shares of Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average price target of $455.37.

Check Out Our Latest Stock Report on Lululemon Athletica

Lululemon Athletica Stock Down 2.6 %

Shares of NASDAQ:LULU opened at $295.25 on Wednesday. The company has a market cap of $37.20 billion, a P/E ratio of 24.18, a PEG ratio of 1.44 and a beta of 1.30. Lululemon Athletica has a 52 week low of $293.03 and a 52 week high of $516.39. The company has a 50-day moving average price of $356.91 and a 200 day moving average price of $429.35.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last announced its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.40 earnings per share. Analysts expect that Lululemon Athletica will post 14.11 EPS for the current year.

Insiders Place Their Bets

In related news, Director Martha A. M. Morfitt bought 700 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the purchase, the director now owns 500 shares in the company, valued at approximately $194,645. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Lululemon Athletica by 32.3% during the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after buying an additional 2,369,119 shares during the last quarter. International Assets Investment Management LLC grew its position in Lululemon Athletica by 51,219.6% in the 4th quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock worth $351,868,000 after purchasing an additional 686,855 shares during the last quarter. Norges Bank bought a new position in Lululemon Athletica in the 4th quarter worth about $236,378,000. Morgan Stanley grew its position in Lululemon Athletica by 29.2% in the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after purchasing an additional 437,069 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Lululemon Athletica by 20.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock worth $719,198,000 after purchasing an additional 310,347 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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