Price Target Cut for Lululemon Athletica by Barclays

Barclays has recently lowered its target price for Lululemon Athletica (NASDAQ:LULU) from $411.00 to $309.00, according to a research report released on Friday. This brokerage has assigned an "equal weight" rating on the stock.

The new price target suggests a potential upside of 5.20% based on the current stock price, indicating a conservative outlook from Barclays on the apparel retailer.

Other Analysts' Opinions

In addition to Barclays, other analysts have also provided their assessments of Lululemon's stock. Piper Sandler revised its price target down from $340.00 to $315.00, maintaining a "neutral" rating. BMO Capital Markets has raised its target slightly from $265.00 to $302.00 and rated the stock as "market perform." Meanwhile, JPMorgan Chase & Co. decreased their price target from $437.00 to $391.00, keeping an "overweight" rating. UBS Group also cut its target from $376.00 to $335.00, setting a "neutral" rating. Lastly, Jefferies Financial Group reaffirmed an "underperform" rating, establishing a target price of $220.00. Overall, among analysts, one has rated the stock as a sell, nine as hold, and nineteen as buy. MarketBeat.com notes that the average rating for Lululemon's stock remains a "Moderate Buy" with an average price target of $383.66.

Current Stock Performance

On Friday, LULU stock experienced a decline, trading down $47.79 and reaching a price of $293.74 at midday. The trading volume was significant, with 7,831,965 shares changing hands, compared to the average volume of 2,124,191. The market capitalization for Lululemon now stands at $35.77 billion. The company's price-to-earnings ratio is 21.12, with a PEG ratio of 2.22, reflecting its growth potential. The stock has seen a 50-day simple moving average of $366.25 and a 200-day average of $338.67. Over the past year, Lululemon's stock has ranged from a low of $226.01 to a high of $423.32.

Recent Earnings Report

Lululemon Athletica recently announced its earnings results for the last quarter. The company reported earnings per share of $6.14, which surpassed analysts' expectations of $5.85. Additionally, Lululemon generated $3.60 billion in revenue, exceeding estimates of $3.59 billion. This revenue is up 12.3% compared to the same quarter last year. Analysts are projecting that Lululemon will achieve an earnings per share of 14.36 for the current fiscal year.

Institutional Investor Activity

Many hedge funds and institutional investors have recently adjusted their positions in Lululemon. Qsemble Capital Management acquired a new stake valued at $210,000 in the third quarter. D.A. Davidson & Co. increased its holdings by 13.1% during the same period, now owning 3,074 shares valued at $834,000 after purchasing 356 additional shares. Townsquare Capital LLC raised its position by 47.9%, while Glenmede Trust Co. NA expanded its holdings by 18.9%. Institutional ownership stands at 85.20% for Lululemon's stock.

Company Overview

Lululemon Athletica, Inc. designs and retails athletic apparel, footwear, and accessories under the lululemon brand for both men and women. The company offers a wide variety of products, including pants, shorts, tops, and jackets tailored for various healthy lifestyle activities such as yoga, running, and training.

Lululemon, Stocks, PriceTarget