Lululemon Athletica Inc. (NASDAQ:LULU) dropped 3.1% during trading on Thursday after Goldman Sachs Group lowered their price target on the stock from $48.00 to $46.00. Goldman Sachs Group currently has a sell rating on the stock. Lululemon Athletica traded as low as $61.46 and last traded at $61.52, with a volume of 1,740,518 shares trading hands. The stock had previously closed at $63.51.
Several other equities research analysts have also recently issued reports on LULU. Credit Suisse Group AG restated a “buy” rating on shares of Lululemon Athletica in a report on Thursday, June 9th. MKM Partners restated a “buy” rating and set a $77.00 price objective on shares of Lululemon Athletica in a report on Wednesday, June 1st. Sterne Agee CRT restated a “buy” rating and set a $75.00 price objective on shares of Lululemon Athletica in a report on Friday, June 3rd. Jefferies Group restated a “buy” rating on shares of Lululemon Athletica in a report on Wednesday, June 8th. Finally, SunTrust Banks Inc. raised their price objective on Lululemon Athletica from $79.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, June 9th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $71.86.
A number of institutional investors have recently bought and sold shares of the company. Jennison Associates LLC boosted its position in Lululemon Athletica by 761.4% in the second quarter. Jennison Associates LLC now owns 6,234,712 shares of the apparel retailer’s stock valued at $460,496,000 after buying an additional 5,510,939 shares during the last quarter. Lone Pine Capital LLC boosted its position in Lululemon Athletica by 42.9% in the second quarter. Lone Pine Capital LLC now owns 7,410,304 shares of the apparel retailer’s stock valued at $547,325,000 after buying an additional 2,224,220 shares in the last quarter. Norges Bank bought a new position in Lululemon Athletica during the fourth quarter valued at approximately $47,695,000. 1832 Asset Management L.P. boosted its position in Lululemon Athletica by 296,140.0% in the first quarter. 1832 Asset Management L.P. now owns 740,600 shares of the apparel retailer’s stock valued at $84,504,000 after buying an additional 740,350 shares in the last quarter. Finally, Schroder Investment Management Group bought a new position in Lululemon Athletica during the second quarter valued at approximately $39,857,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.
The company’s 50-day moving average is $71.78 and its 200-day moving average is $69.46. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 31.29 and a beta of 0.65.
Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, September 1st. The apparel retailer reported $0.38 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. The company had revenue of $514.52 million for the quarter. Lululemon Athletica had a net margin of 12.28% and a return on equity of 23.73%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. On average, equities analysts predict that Lululemon Athletica Inc. will post $2.12 earnings per share for the current year.
About Lululemon Athletica
Lululemon Athletica Inc is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth.
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