Lululemon Athletica Inc. (NASDAQ:LULU – Get Free Report) shares traded down 0.5% during trading on Tuesday after TD Cowen lowered their price target on the stock from $420.00 to $375.00. TD Cowen currently has a buy rating on the stock. Lululemon Athletica traded as low as $268.25 and last traded at $270.29. 418,121 shares changed hands during trading, a decline of 80% from the average session volume of 2,074,347 shares. The stock had previously closed at $271.66.
Several other research analysts have also recently weighed in on LULU. Robert W. Baird decreased their target price on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. BMO Capital Markets dropped their target price on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research report on Thursday, June 6th. UBS Group lowered their price objective on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Wells Fargo & Company lowered their target price on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $357.00 price objective on shares of Lululemon Athletica in a research report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $377.45.
Institutional Investors Weigh In On Lululemon Athletica
A number of hedge funds have recently modified their holdings of LULU. Tidemark LLC bought a new position in shares of Lululemon Athletica in the fourth quarter worth $26,000. Scarborough Advisors LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at about $26,000. Benjamin Edwards Inc. boosted its holdings in shares of Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 44 shares during the period. Riverview Trust Co purchased a new stake in shares of Lululemon Athletica during the first quarter worth about $29,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares during the period. Institutional investors own 85.20% of the company’s stock.
Lululemon Athletica Stock Down 0.2 %
The company’s fifty day simple moving average is $275.58 and its 200 day simple moving average is $343.83. The firm has a market capitalization of $33.90 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.
Lululemon Athletica (NASDAQ:LULU – Get Free Report) last announced its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.28 earnings per share. Equities research analysts forecast that Lululemon Athletica Inc. will post 14.22 EPS for the current year.
Lululemon Athletica declared that its board has authorized a share repurchase plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
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.