Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $378.00 at Barclays

Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by stock analysts at Barclays from $261.00 to $378.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the apparel retailer’s stock. Barclays‘s price target would suggest a potential downside of 6.48% from the stock’s previous close.

Several other equities research analysts have also commented on LULU. Wedbush decreased their price objective on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $438.00 price target (up previously from $370.00) on shares of Lululemon Athletica in a report on Friday. Wells Fargo & Company dropped their price objective on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Truist Financial increased their price objective on Lululemon Athletica from $360.00 to $420.00 and gave the company a “buy” rating in a research note on Friday. Finally, Guggenheim increased their target price on shares of Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $375.97.

Lululemon Athletica Stock Performance

LULU stock traded up $59.37 during trading on Friday, reaching $404.18. 8,659,657 shares of the company were exchanged, compared to its average volume of 2,112,693. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $516.39. The company has a market cap of $49.62 billion, a P/E ratio of 31.23, a PEG ratio of 2.49 and a beta of 1.23. The stock’s 50 day moving average price is $303.40 and its 200 day moving average price is $287.81.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 EPS. As a group, equities research analysts forecast that Lululemon Athletica will post 13.94 EPS for the current year.

Insider Activity

In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of Lululemon Athletica

Hedge funds have recently modified their holdings of the stock. Mather Group LLC. boosted its holdings in Lululemon Athletica by 105.6% in the second quarter. Mather Group LLC. now owns 255 shares of the apparel retailer’s stock valued at $76,000 after acquiring an additional 131 shares during the last quarter. CWM LLC lifted its stake in Lululemon Athletica by 21.4% in the 2nd quarter. CWM LLC now owns 2,896 shares of the apparel retailer’s stock valued at $865,000 after acquiring an additional 510 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in Lululemon Athletica by 18.6% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 779 shares of the apparel retailer’s stock valued at $233,000 after purchasing an additional 122 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Lululemon Athletica during the 2nd quarter worth about $86,000. Finally, Hexagon Capital Partners LLC raised its holdings in Lululemon Athletica by 273.5% during the second quarter. Hexagon Capital Partners LLC now owns 127 shares of the apparel retailer’s stock worth $38,000 after acquiring an additional 93 shares in the last quarter. 85.20% of the stock is owned by institutional investors.

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.