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

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by Oppenheimer from $445.00 to $380.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the apparel retailer’s stock. Oppenheimer’s price target indicates a potential upside of 19.18% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird boosted their price objective on shares of Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Telsey Advisory Group dropped their price target on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Sanford C. Bernstein reduced their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Barclays dropped their target price on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Finally, KeyCorp cut their target price on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average target price of $356.03.

Lululemon Athletica Stock Performance

NASDAQ LULU opened at $318.84 on Wednesday. Lululemon Athletica has a one year low of $226.01 and a one year high of $516.39. The firm has a market cap of $39.15 billion, a PE ratio of 24.64, a P/E/G ratio of 2.38 and a beta of 1.24. The firm’s fifty day moving average is $294.07 and its two-hundred day moving average is $287.62.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the business earned $2.68 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Research analysts predict that Lululemon Athletica will post 14.02 earnings per share for the current year.

Insider Activity at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. This represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Value Star Asset Management Hong Kong Ltd boosted its stake in Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lululemon Athletica by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer’s stock worth $669,036,000 after purchasing an additional 44,294 shares during the last quarter. American Century Companies Inc. grew its stake in Lululemon Athletica by 4.9% in the second quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after purchasing an additional 82,731 shares in the last quarter. Legal & General Group Plc increased its holdings in Lululemon Athletica by 3.7% in the second quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock valued at $310,763,000 after buying an additional 37,239 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after buying an additional 894,531 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

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.