Lululemon Athletica’s (LULU) Equal Weight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Lululemon Athletica (NASDAQ:LULU) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage currently has a $280.00 price target on the apparel retailer’s stock, down from their previous price target of $346.00.

LULU has been the subject of several other reports. BMO Capital Markets lowered their target price on Lululemon Athletica from $302.00 to $250.00 and set a “market perform” rating for the company in a research note on Friday. TD Securities increased their price target on Lululemon Athletica from $370.00 to $373.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Piper Sandler lifted their price objective on Lululemon Athletica from $280.00 to $315.00 and gave the stock a “neutral” rating in a report on Tuesday, June 3rd. KeyCorp cut their target price on Lululemon Athletica from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Argus cut Lululemon Athletica from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $340.26.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $259.04 on Monday. The business’s 50-day simple moving average is $285.46 and its 200 day simple moving average is $337.84. The company has a market cap of $31.25 billion, a P/E ratio of 18.70, a PEG ratio of 2.22 and a beta of 1.26. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last posted 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 net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm posted $2.54 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current year.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds have recently made changes to their positions in LULU. Price T Rowe Associates Inc. MD grew its stake in Lululemon Athletica by 95.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after purchasing an additional 2,371,079 shares in the last quarter. Mawer Investment Management Ltd. acquired a new stake in shares of Lululemon Athletica in the 4th quarter valued at approximately $523,520,000. Diamond Hill Capital Management Inc. bought a new position in shares of Lululemon Athletica in the fourth quarter valued at $370,062,000. Alliancebernstein L.P. lifted its stake in Lululemon Athletica by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after acquiring an additional 571,657 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Lululemon Athletica by 37,062.1% in the 1st quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer’s stock valued at $159,364,000 after acquiring an additional 561,491 shares during the period. 85.20% of the stock is owned by institutional investors.

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.