Cowen Trims Lululemon Athletica (NASDAQ:LULU) Target Price to $491.00

Lululemon Athletica (NASDAQ:LULU) had its price objective trimmed by Cowen from $523.00 to $491.00 in a research report report published on Wednesday morning, Price Targets.com reports. The firm currently has an outperform rating on the apparel retailer’s stock.

A number of other equities analysts have also recently issued reports on LULU. Truist Financial began coverage on Lululemon Athletica in a report on Thursday, December 16th. They issued a hold rating and a $435.00 price objective for the company. MKM Partners increased their target price on Lululemon Athletica from $468.00 to $485.00 and gave the company a buy rating in a report on Friday, December 10th. Telsey Advisory Group dropped their target price on Lululemon Athletica from $515.00 to $470.00 and set an outperform rating for the company in a report on Tuesday. Morgan Stanley dropped their target price on Lululemon Athletica from $404.00 to $300.00 and set an equal weight rating for the company in a report on Tuesday. Finally, Robert W. Baird dropped their target price on Lululemon Athletica from $500.00 to $475.00 in a report on Tuesday. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Buy and an average target price of $448.96.

LULU opened at $328.98 on Wednesday. The stock has a 50-day moving average price of $415.38 and a 200-day moving average price of $408.65. Lululemon Athletica has a 12-month low of $269.28 and a 12-month high of $485.83. The stock has a market capitalization of $42.53 billion, a P/E ratio of 49.40, a PEG ratio of 2.38 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, December 9th. The apparel retailer reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.21. Lululemon Athletica had a return on equity of 34.83% and a net margin of 14.86%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the business earned $1.16 EPS. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. Research analysts expect that Lululemon Athletica will post 7.71 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Connecticut Wealth Management LLC increased its position in Lululemon Athletica by 3.5% during the 3rd quarter. Connecticut Wealth Management LLC now owns 741 shares of the apparel retailer’s stock valued at $300,000 after buying an additional 25 shares in the last quarter. Voya Financial Advisors Inc. boosted its stake in Lululemon Athletica by 1.9% during the 3rd quarter. Voya Financial Advisors Inc. now owns 1,428 shares of the apparel retailer’s stock valued at $586,000 after purchasing an additional 26 shares during the last quarter. Coastal Investment Advisors Inc. boosted its stake in Lululemon Athletica by 3.3% during the 3rd quarter. Coastal Investment Advisors Inc. now owns 847 shares of the apparel retailer’s stock valued at $343,000 after purchasing an additional 27 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Lululemon Athletica by 2.9% during the 3rd quarter. Checchi Capital Advisers LLC now owns 959 shares of the apparel retailer’s stock valued at $388,000 after purchasing an additional 27 shares during the last quarter. Finally, Altman Advisors Inc. boosted its stake in Lululemon Athletica by 0.7% during the 3rd quarter. Altman Advisors Inc. now owns 4,054 shares of the apparel retailer’s stock valued at $1,889,000 after purchasing an additional 29 shares during the last quarter. 81.56% of the stock is owned by institutional investors.

About Lululemon Athletica

lululemon athletica, Inc engages in the designing, distributing and retail of athletic apparel and accessories. It company operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize in athletic wear for female youth.

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Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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