Barclays Cuts lululemon athletica (NASDAQ:LULU) Price Target to $209.00

Key Points

• Barclays has lowered its price target for lululemon athletica from $270.00 to $209.00, maintaining an "equal weight" rating on the stock, which suggests a potential upside of 6.51% from its current price.
• In addition to Barclays, other analysts have also adjusted their targets, with Bank of America setting a new target of $370.00 and Jefferies Financial Group lowering theirs to $200.00.
• Despite the mixed ratings from analysts, lululemon athletica reported a revenue increase of 7.3% year-over-year, with earnings per share matching expectations at $2.60.

lululemon athletica (NASDAQ:LULU - Get Free Report) had its price target lowered by stock analysts at Barclays from $270.00 to $209.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has an "equal weight" rating on the apparel retailer's stock. Barclays's price target points to a potential upside of 11.37% from the company's previous close.

LULU has been the topic of a number of other reports. Needham & Company LLC lowered their price objective on shares of lululemon athletica from $366.00 to $317.00 and set a "buy" rating on the stock in a report on Friday, June 6th. Evercore ISI lifted their price target on shares of lululemon athletica from $320.00 to $400.00 and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Bank of America reduced their price objective on shares of lululemon athletica from $400.00 to $370.00 and set a "buy" rating for the company in a research note on Friday, June 6th. TD Securities upped their target price on lululemon athletica from $370.00 to $373.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Finally, UBS Group decreased their price target on lululemon athletica from $330.00 to $290.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, lululemon athletica currently has a consensus rating of "Moderate Buy" and a consensus price target of $329.91.

lululemon athletica Stock Down 1.8%

Shares of LULU traded down $3.48 during mid-day trading on Wednesday, reaching $187.67. The company's stock had a trading volume of 1,802,455 shares, compared to its average volume of 2,600,008. The business has a fifty day moving average of $238.95 and a 200 day moving average of $294.91. The company has a market cap of $22.49 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.67 and a beta of 1.16. lululemon athletica has a 1 year low of $186.52 and a 1 year high of $423.32.

lululemon athletica (NASDAQ:LULU - Get Free Report) last announced its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.60. The firm had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.36 billion. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The company's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.54 earnings per share. On average, analysts predict that lululemon athletica will post 14.36 earnings per share for the current year.

Insider Activity

In other news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the completion of the sale, the chief executive officer owned 110,564 shares in the company, valued at approximately $26,058,829.16. This trade represents a 19.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On lululemon athletica

A number of hedge funds have recently made changes to their positions in LULU. N.E.W. Advisory Services LLC purchased a new stake in shares of lululemon athletica in the 1st quarter worth about $25,000. Cornerstone Planning Group LLC grew its holdings in shares of lululemon athletica by 506.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock worth $26,000 after acquiring an additional 81 shares during the period. Flaharty Asset Management LLC purchased a new position in shares of lululemon athletica in the 1st quarter valued at approximately $29,000. Blue Trust Inc. boosted its position in shares of lululemon athletica by 96.8% during the second quarter. Blue Trust Inc. now owns 124 shares of the apparel retailer's stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in lululemon athletica in the fourth quarter worth $30,000. 85.20% of the stock is currently owned by 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.