Lululemon Athletica Inc. (NASDAQ:LULU – Get Free Report)’s share price fell 7.2% during trading on Thursday after TD Cowen lowered their price target on the stock from $447.00 to $420.00. TD Cowen currently has a buy rating on the stock. Lululemon Athletica traded as low as $251.96 and last traded at $252.56. 3,165,457 shares traded hands during trading, an increase of 55% from the average session volume of 2,041,338 shares. The stock had previously closed at $272.06.
Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $357.00 price target on shares of Lululemon Athletica in a report on Thursday, June 13th. UBS Group cut their price target on shares of Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Truist Financial dropped their price objective on shares of Lululemon Athletica from $498.00 to $415.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. Finally, Jefferies Financial Group decreased their price target on shares of Lululemon Athletica from $240.00 to $220.00 and set an “underperform” rating for the company in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $422.87.
Hedge Funds Weigh In On Lululemon Athletica
Institutional investors and hedge funds have recently bought and sold shares of the company. Pinnacle Financial Partners Inc increased its stake in shares of Lululemon Athletica by 1.9% in the fourth quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after buying an additional 23 shares during the period. Moody National Bank Trust Division increased its stake in shares of Lululemon Athletica by 1.0% in the first quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock valued at $1,112,000 after buying an additional 29 shares during the period. Congress Wealth Management LLC DE increased its stake in shares of Lululemon Athletica by 2.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock valued at $777,000 after buying an additional 30 shares during the period. Great Lakes Retirement Inc. increased its stake in shares of Lululemon Athletica by 1.1% in the fourth quarter. Great Lakes Retirement Inc. now owns 2,964 shares of the apparel retailer’s stock valued at $1,515,000 after buying an additional 31 shares during the period. Finally, Graypoint LLC increased its stake in shares of Lululemon Athletica by 5.1% in the first quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock valued at $273,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.
Lululemon Athletica Stock Down 9.1 %
The company has a market cap of $30.92 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.40 and a beta of 1.26. The firm has a 50 day moving average price of $303.63 and a two-hundred day moving average price of $380.66.
Lululemon Athletica (NASDAQ:LULU – Get Free Report) last released its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the firm posted $2.28 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. On average, equities analysts expect that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.
Lululemon Athletica announced that its board has approved a stock repurchase program on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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.