Lululemon Athletica (NASDAQ:LULU) Price Target Lowered to $309.00 at Barclays

Lululemon Athletica (NASDAQ:LULU) had its price target dropped by equities researchers at Barclays from $411.00 to $309.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Barclays‘s price objective points to a potential upside of 5.20% from the stock’s current price.

Several other research analysts have also recently weighed in on LULU. Piper Sandler dropped their price objective on shares of Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday. BMO Capital Markets upped their price target on Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their price objective on Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating for the company in a research report on Friday. UBS Group cut their target price on shares of Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group reiterated an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $383.66.

Lululemon Athletica Stock Down 14.0 %

LULU stock traded down $47.79 during midday trading on Friday, reaching $293.74. 7,831,965 shares of the company’s stock traded hands, compared to its average volume of 2,124,191. The company has a market cap of $35.77 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.22 and a beta of 1.21. The company has a 50-day simple moving average of $366.25 and a two-hundred day simple moving average of $338.67. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the company posted $5.29 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Lululemon Athletica will post 14.36 EPS for the current year.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds and other institutional investors have recently bought and sold shares of LULU. Qsemble Capital Management LP bought a new stake in Lululemon Athletica in the 3rd quarter valued at $210,000. D.A. Davidson & CO. boosted its holdings in shares of Lululemon Athletica by 13.1% during the 3rd quarter. D.A. Davidson & CO. now owns 3,074 shares of the apparel retailer’s stock worth $834,000 after buying an additional 356 shares during the period. Townsquare Capital LLC grew its position in shares of Lululemon Athletica by 47.9% in the third quarter. Townsquare Capital LLC now owns 2,205 shares of the apparel retailer’s stock valued at $598,000 after purchasing an additional 714 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in Lululemon Athletica by 18.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,614 shares of the apparel retailer’s stock valued at $438,000 after buying an additional 256 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new position in Lululemon Athletica during the 3rd quarter worth $274,000. Institutional investors own 85.20% of the company’s stock.

About Lululemon Athletica

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.