Lululemon Athletica (NASDAQ:LULU) Lowered to “Equal Weight” at Barclays

Barclays lowered shares of Lululemon Athletica (NASDAQ:LULU) from an overweight rating to an equal weight rating in a research note issued to investors on Monday morning, Marketbeat reports. Barclays currently has $395.00 price target on the apparel retailer’s stock, down from their prior price target of $546.00.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company dropped their price objective on shares of Lululemon Athletica from $450.00 to $425.00 and set an equal weight rating on the stock in a report on Friday, March 22nd. Raymond James raised their price objective on shares of Lululemon Athletica from $495.00 to $520.00 and gave the stock an outperform rating in a report on Wednesday, January 10th. Sanford C. Bernstein dropped their price objective on shares of Lululemon Athletica from $430.00 to $384.00 and set a market perform rating on the stock in a report on Friday. Stifel Nicolaus restated a buy rating and set a $539.00 price objective (down from $596.00) on shares of Lululemon Athletica in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lululemon Athletica from $531.00 to $509.00 and set an overweight rating on the stock in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $476.57.

Lululemon Athletica Stock Performance

LULU opened at $363.96 on Monday. The firm’s fifty day moving average is $408.86 and its two-hundred day moving average is $439.09. The firm has a market cap of $45.86 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30. Lululemon Athletica has a twelve month low of $326.93 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.00 by $0.29. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the business posted $4.40 earnings per share. Equities analysts forecast that Lululemon Athletica will post 14.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Martha A. M. Morfitt bought 700 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average price of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $194,645. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by insiders.

Institutional Trading of Lululemon Athletica

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Perigon Wealth Management LLC raised its stake in Lululemon Athletica by 19.9% in the 1st quarter. Perigon Wealth Management LLC now owns 1,592 shares of the apparel retailer’s stock worth $622,000 after purchasing an additional 264 shares in the last quarter. SkyOak Wealth LLC raised its stake in Lululemon Athletica by 181.7% in the 1st quarter. SkyOak Wealth LLC now owns 3,101 shares of the apparel retailer’s stock worth $1,211,000 after purchasing an additional 2,000 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in Lululemon Athletica by 96.2% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 204 shares of the apparel retailer’s stock worth $80,000 after purchasing an additional 100 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Lululemon Athletica by 15.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 40,116 shares of the apparel retailer’s stock worth $15,671,000 after purchasing an additional 5,509 shares in the last quarter. Finally, Greenleaf Trust raised its stake in Lululemon Athletica by 2.5% in the 1st quarter. Greenleaf Trust now owns 2,379 shares of the apparel retailer’s stock worth $929,000 after purchasing an additional 58 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.