Barclays Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $270.00

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by Barclays from $276.00 to $270.00 in a research note released on Monday morning,Benzinga reports. They currently have an equal weight rating on the apparel retailer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company restated an “equal weight” rating on shares of Lululemon Athletica in a research report on Friday, June 6th. Piper Sandler boosted their price objective on Lululemon Athletica from $280.00 to $315.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 3rd. Jefferies Financial Group decreased their price objective on Lululemon Athletica from $220.00 to $200.00 and set an “underperform” rating on the stock in a research report on Friday, June 6th. Stifel Nicolaus lowered their price target on Lululemon Athletica from $353.00 to $324.00 and set a “buy” rating for the company in a research report on Friday, June 6th. Finally, BTIG Research cut their price objective on shares of Lululemon Athletica from $420.00 to $405.00 and set a “buy” rating on the stock in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $340.26.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $252.28 on Monday. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $423.32. The company has a market capitalization of $30.43 billion, a P/E ratio of 18.22, a P/E/G ratio of 2.22 and a beta of 1.26. The firm’s 50 day simple moving average is $285.28 and its two-hundred day simple moving average is $336.70.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.60. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.54 earnings per share. On average, sell-side analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LULU. TCTC Holdings LLC purchased a new position in Lululemon Athletica in the fourth quarter valued at $26,000. Anderson Financial Strategies LLC purchased a new position in Lululemon Athletica in the fourth quarter valued at $30,000. Kestra Investment Management LLC purchased a new position in Lululemon Athletica in the fourth quarter valued at $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Lululemon Athletica in the fourth quarter valued at $32,000. Finally, Asset Planning Inc purchased a new position in Lululemon Athletica in the fourth quarter valued at $33,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

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.