Lululemon Athletica (NASDAQ:LULU) Given New $263.00 Price Target at Barclays

Lululemon Athletica (NASDAQ:LULU) had its target price decreased by Barclays from $338.00 to $263.00 in a research note published on Wednesday morning, BayStreet.CA reports. Barclays currently has an equal weight rating on the apparel retailer’s stock.

Other equities analysts also recently issued reports about the company. Piper Sandler lowered their price objective on Lululemon Athletica from $525.00 to $470.00 and set an overweight rating for the company in a research report on Tuesday, April 9th. TD Securities lowered their price objective on Lululemon Athletica from $515.00 to $437.00 and set a buy rating for the company in a research report on Wednesday, May 29th. Oppenheimer reaffirmed an outperform rating and issued a $445.00 price target on shares of Lululemon Athletica in a report on Thursday, June 6th. Bank of America upped their price target on Lululemon Athletica from $430.00 to $440.00 and gave the company a buy rating in a report on Thursday, June 6th. Finally, Robert W. Baird lowered their price target on Lululemon Athletica from $470.00 to $350.00 and set an outperform rating for the company in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica has a consensus rating of Moderate Buy and an average price target of $404.26.

Lululemon Athletica Trading Down 1.3 %

LULU traded down $3.03 on Wednesday, hitting $238.72. The company had a trading volume of 1,289,980 shares, compared to its average volume of 2,098,160. The firm has a market cap of $29.84 billion, a P/E ratio of 19.14, a PEG ratio of 1.25 and a beta of 1.26. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39. The company’s fifty day moving average price is $287.76 and its 200 day moving average price is $360.92.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 earnings per share. On average, analysts predict that Lululemon Athletica will post 14.22 earnings per share for the current year.

Lululemon Athletica announced that its board has approved a share repurchase plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Lululemon Athletica

A number of large investors have recently made changes to their positions in LULU. Value Star Asset Management Hong Kong Ltd boosted its stake in shares of Lululemon Athletica by 19,890.3% during the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the last quarter. Vanguard Group Inc. boosted its stake in Lululemon Athletica by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock worth $4,955,918,000 after buying an additional 2,369,119 shares during the last quarter. Norges Bank acquired a new stake in Lululemon Athletica in the 4th quarter worth about $236,378,000. Northern Trust Corp boosted its stake in Lululemon Athletica by 32.7% in the 4th quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after buying an additional 257,944 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Lululemon Athletica by 61.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 653,391 shares of the apparel retailer’s stock worth $334,072,000 after buying an additional 249,232 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

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.