Lululemon Athletica (NASDAQ:LULU) Cut to “Equal Weight” at Morgan Stanley

Lululemon Athletica (NASDAQ:LULU) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Monday,Briefing.com Automated Import reports. They presently have a $280.00 price target on the apparel retailer’s stock. Morgan Stanley’s price target would indicate a potential upside of 5.55% from the stock’s current price.

LULU has been the topic of a number of other research reports. BTIG Research cut their price target on shares of Lululemon Athletica from $420.00 to $405.00 and set a “buy” rating on the stock in a report on Friday. Jefferies Financial Group cut their target price on Lululemon Athletica from $220.00 to $200.00 and set an “underperform” rating on the stock in a research note on Friday. UBS Group lowered their price target on Lululemon Athletica from $330.00 to $290.00 and set a “neutral” rating on the stock in a report on Friday. Evercore ISI raised their target price on shares of Lululemon Athletica from $320.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. Finally, Bank of America cut their price target on Lululemon Athletica from $400.00 to $370.00 and set a “buy” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus target price of $342.61.

Lululemon Athletica Stock Performance

LULU stock opened at $265.27 on Monday. The firm has a 50 day moving average price of $285.93 and a 200-day moving average price of $338.24. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $423.32. The firm has a market capitalization of $32.00 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.22 and a beta of 1.26.

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

Institutional Trading of Lululemon Athletica

Several hedge funds have recently bought and sold shares of LULU. TCTC Holdings LLC bought a new position in Lululemon Athletica during the fourth quarter valued at approximately $26,000. Anderson Financial Strategies LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at $30,000. Kestra Investment Management LLC bought a new position in Lululemon Athletica during the fourth quarter valued at $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth $32,000. Finally, Asset Planning Inc bought a new stake in shares of Lululemon Athletica in the 4th quarter worth about $33,000. Hedge funds and other 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.