Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $261.00

Lululemon Athletica (NASDAQ:LULU) had its target price dropped by investment analysts at Barclays from $263.00 to $261.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Barclays‘s target price suggests a potential downside of 0.02% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company dropped their price target on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. Sanford C. Bernstein increased their price target on Lululemon Athletica from $376.00 to $382.00 and gave the company a “market perform” rating in a report on Friday, June 7th. Evercore ISI restated an “outperform” rating and issued a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday. BMO Capital Markets lowered their target price on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Finally, Telsey Advisory Group dropped their target price on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $372.52.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU traded up $2.03 during trading hours on Friday, hitting $261.04. 4,392,795 shares of the company’s stock traded hands, compared to its average volume of 2,118,053. The company’s fifty day simple moving average is $273.65 and its two-hundred day simple moving average is $341.85. 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 $32.63 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.23. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the business posted $2.68 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts anticipate that Lululemon Athletica will post 14.22 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LULU. Moody National Bank Trust Division lifted its holdings in shares of Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after purchasing an additional 29 shares in the last quarter. Congress Wealth Management LLC DE raised its holdings in shares of Lululemon Athletica by 2.0% during the fourth quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock worth $777,000 after acquiring an additional 30 shares during the period. Graypoint LLC lifted its position in Lululemon Athletica by 5.1% in the 1st quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock valued at $273,000 after acquiring an additional 34 shares in the last quarter. William Allan Corp boosted its stake in Lululemon Athletica by 0.8% in the 1st quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock worth $1,913,000 after purchasing an additional 37 shares during the period. Finally, FinTrust Capital Advisors LLC increased its holdings in Lululemon Athletica by 50.7% during the 4th quarter. FinTrust Capital Advisors LLC now owns 113 shares of the apparel retailer’s stock worth $58,000 after purchasing an additional 38 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

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.