Lululemon Athletica (NASDAQ:LULU) Rating Lowered to Equal Weight at Barclays

Lululemon Athletica (NASDAQ:LULU) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. They presently have a $395.00 price target on the apparel retailer’s stock, down from their previous price target of $546.00. Barclays‘s target price suggests a potential upside of 9.54% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Piper Sandler dropped their target price on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Jefferies Financial Group dropped their target price on shares of Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating on the stock in a research note on Thursday, April 4th. Truist Financial dropped their price target on shares of Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Finally, Needham & Company LLC dropped their price target on shares of Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $476.57.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $360.60 on Monday. Lululemon Athletica has a fifty-two week low of $326.93 and a fifty-two week high of $516.39. The stock has a market cap of $45.44 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30. The firm’s 50-day simple moving average is $407.18 and its 200 day simple moving average is $438.97.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the company earned $4.40 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, analysts predict that Lululemon Athletica will post 14.15 EPS for the current fiscal year.

Insider Transactions at Lululemon Athletica

In related news, Director Martha A. M. Morfitt purchased 700 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were purchased at an average price of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at $194,645. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ballentine Partners LLC purchased a new stake in Lululemon Athletica during the 3rd quarter valued at $208,000. Valeo Financial Advisors LLC boosted its position in Lululemon Athletica by 37.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,362 shares of the apparel retailer’s stock valued at $525,000 after buying an additional 370 shares during the period. Commonwealth Equity Services LLC boosted its position in Lululemon Athletica by 6.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 31,553 shares of the apparel retailer’s stock valued at $12,167,000 after buying an additional 1,810 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Lululemon Athletica by 2.9% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,386 shares of the apparel retailer’s stock valued at $11,332,000 after buying an additional 832 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Lululemon Athletica by 6.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,650 shares of the apparel retailer’s stock valued at $4,107,000 after buying an additional 669 shares during the period. 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.