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

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by Barclays from $411.00 to $309.00 in a research note released on Friday morning,Benzinga reports. They currently have an equal weight rating on the apparel retailer’s stock.

LULU has been the topic of several other reports. Bank of America reduced their price objective on Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Needham & Company LLC dropped their price objective on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. Evercore ISI increased their target price on shares of Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their target price on shares of Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus price target of $380.72.

Lululemon Athletica Stock Down 14.2 %

NASDAQ:LULU opened at $293.06 on Friday. The business’s 50-day simple moving average is $364.63 and its two-hundred day simple moving average is $340.22. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The stock has a market cap of $35.69 billion, a PE ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21.

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

Institutional Trading of Lululemon Athletica

A number of institutional investors have recently modified their holdings of LULU. Fairtree Asset Management Pty Ltd acquired a new position in shares of Lululemon Athletica during the fourth quarter worth $497,000. 111 Capital purchased a new position in Lululemon Athletica during the 4th quarter worth $3,362,000. NorthCrest Asset Manangement LLC increased its position in Lululemon Athletica by 6.3% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,198 shares of the apparel retailer’s stock valued at $458,000 after buying an additional 71 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in Lululemon Athletica in the fourth quarter valued at about $1,912,000. Finally, Wealthedge Investment Advisors LLC acquired a new stake in Lululemon Athletica in the fourth quarter worth about $1,257,000. 85.20% of the stock is currently 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.