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 - Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. Morgan Stanley currently has a $280.00 price target on the apparel retailer's stock, down from their prior price target of $346.00.

Several other equities research analysts have also recently issued reports on the company. BMO Capital Markets lowered their price objective on Lululemon Athletica from $302.00 to $250.00 and set a "market perform" rating on the stock in a report on Friday, June 6th. Piper Sandler raised their target price on shares of Lululemon Athletica from $280.00 to $315.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Stifel Nicolaus dropped their price target on Lululemon Athletica from $353.00 to $324.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Argus downgraded Lululemon Athletica from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Finally, William Blair restated an "outperform" rating on shares of Lululemon Athletica in a report on Thursday, April 3rd. 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $340.26.

Lululemon Athletica Price Performance

LULU traded down $5.25 on Monday, reaching $247.03. 4,155,637 shares of the stock were exchanged, compared to its average volume of 2,208,716. The company's 50-day moving average price is $285.28 and its 200 day moving average price is $336.70. The firm has a market capitalization of $29.80 billion, a PE ratio of 17.84, a PEG ratio of 2.22 and a beta of 1.26. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 17.05% and a return on equity of 42.16%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.54 earnings per share. As a group, equities analysts forecast that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

A number of hedge funds have recently bought and sold shares of the stock. Investment Partners Asset Management Inc. purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth approximately $275,000. Nutshell Asset Management Ltd acquired a new position in Lululemon Athletica during the 4th quarter worth approximately $956,000. Montag A & Associates Inc. increased its position in shares of Lululemon Athletica by 495.1% in the 4th quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer's stock valued at $1,627,000 after purchasing an additional 3,540 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Lululemon Athletica in the 4th quarter valued at $17,775,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Lululemon Athletica during the 4th quarter worth $2,229,000. Institutional investors and hedge funds own 85.20% of the company's stock.

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.