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

Lululemon Athletica (NASDAQ:LULU) had its target price reduced by Oppenheimer from $445.00 to $380.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the apparel retailer’s stock. Oppenheimer’s target price points to a potential upside of 18.93% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. TD Cowen dropped their price objective on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Stifel Nicolaus dropped their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. UBS Group reduced their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Telsey Advisory Group dropped their target price on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research report on Monday, August 26th. Finally, KeyCorp reduced their price target on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus price target of $356.03.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $319.52 on Wednesday. The company’s fifty day moving average is $296.03 and its two-hundred day moving average is $288.06. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39. The company has a market capitalization of $39.23 billion, a P/E ratio of 24.69, a PEG ratio of 2.38 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The company 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 firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $2.68 EPS. As a group, equities analysts expect that Lululemon Athletica will post 14.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. This trade represents a 4.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently bought and sold shares of the stock. Shepherd Financial Partners LLC purchased a new position in shares of Lululemon Athletica in the third quarter valued at $953,000. XTX Topco Ltd grew its stake in shares of Lululemon Athletica by 281.4% during the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after acquiring an additional 6,562 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after acquiring an additional 3,721 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in shares of Lululemon Athletica by 9.7% in the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock worth $10,368,000 after acquiring an additional 3,077 shares in the last quarter. Finally, Rheos Capital Works Inc. boosted its holdings in Lululemon Athletica by 19.2% in the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

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.