Barclays Forecasts Strong Price Appreciation for Lululemon Athletica (NASDAQ:LULU) Stock

Lululemon Athletica (NASDAQ:LULU) had its price objective lifted by Barclays from $261.00 to $378.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Barclays‘s price objective suggests a potential downside of 5.41% from the stock’s previous close.

Several other brokerages have also issued reports on LULU. Wells Fargo & Company cut their price target on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Truist Financial boosted their price target on shares of Lululemon Athletica from $360.00 to $420.00 and gave the company a “buy” rating in a research note on Friday. Telsey Advisory Group raised their price objective on shares of Lululemon Athletica from $360.00 to $430.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group reissued an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research report on Monday, December 2nd. Finally, TD Cowen dropped their price target on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.52.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $399.60 on Friday. The stock has a market capitalization of $49.06 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.50 and a beta of 1.23. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $516.39. The stock’s 50 day moving average price is $305.79 and its two-hundred day moving average price is $288.07.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $2.53 earnings per share. On average, equities research analysts forecast that Lululemon Athletica will post 13.93 EPS for the current year.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

A number of large investors have recently modified their holdings of LULU. Sunbelt Securities Inc. lifted its position in Lululemon Athletica by 4.6% in the third quarter. Sunbelt Securities Inc. now owns 950 shares of the apparel retailer’s stock valued at $258,000 after purchasing an additional 42 shares during the last quarter. Rockline Wealth Management LLC increased its stake in shares of Lululemon Athletica by 1.3% in the second quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer’s stock worth $990,000 after buying an additional 43 shares during the period. Larson Financial Group LLC raised its holdings in Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 43 shares during the last quarter. HHM Wealth Advisors LLC boosted its position in Lululemon Athletica by 66.7% during the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 46 shares during the period. Finally, WD Rutherford LLC grew its holdings in Lululemon Athletica by 0.8% in the 2nd quarter. WD Rutherford LLC now owns 6,421 shares of the apparel retailer’s stock worth $1,918,000 after acquiring an additional 52 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other 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.