Lululemon Athletica (NASDAQ:LULU) Receives Equal Weight Rating from Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Lululemon Athletica (NASDAQ:LULU) in a research note published on Monday, Marketbeat Ratings reports. Morgan Stanley currently has a $280.00 price objective on the apparel retailer’s stock, down from their prior price objective of $346.00.

LULU has been the topic of a number of other reports. Stifel Nicolaus decreased their target price on Lululemon Athletica from $353.00 to $324.00 and set a “buy” rating on the stock in a research report on Friday, June 6th. Bank of America cut their target price on shares of Lululemon Athletica from $400.00 to $370.00 and set a “buy” rating for the company in a research note on Friday, June 6th. BTIG Research cut their target price on shares of Lululemon Athletica from $420.00 to $405.00 and set a “buy” rating for the company in a research note on Friday, June 6th. BMO Capital Markets dropped their price objective on shares of Lululemon Athletica from $302.00 to $250.00 and set a “market perform” rating for the company in a research report on Friday, June 6th. Finally, Piper Sandler upped their price objective on Lululemon Athletica from $280.00 to $315.00 and gave the company a “neutral” rating in a report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $340.26.

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $252.28 on Monday. The company has a market capitalization of $30.43 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.22 and a beta of 1.26. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32. The company’s fifty day moving average price is $285.28 and its two-hundred day moving average price is $336.70.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results 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 company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $2.54 earnings per share. As a group, sell-side analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current year.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds have recently made changes to their positions in LULU. Vanguard Group Inc. lifted its holdings in shares of Lululemon Athletica by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 13,266,929 shares of the apparel retailer’s stock valued at $3,755,337,000 after acquiring an additional 157,764 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Lululemon Athletica by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,010,908 shares of the apparel retailer’s stock valued at $1,418,389,000 after acquiring an additional 162,295 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Lululemon Athletica by 9.0% during the 1st quarter. Alliancebernstein L.P. now owns 4,792,294 shares of the apparel retailer’s stock valued at $1,356,507,000 after acquiring an additional 394,706 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lululemon Athletica by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer’s stock valued at $947,682,000 after acquiring an additional 10,461 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of Lululemon Athletica by 34.6% during the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock valued at $827,338,000 after acquiring an additional 556,406 shares in the last quarter. Institutional investors and hedge funds 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.