Several other equities analysts also recently commented on LULU. Morgan Stanley downgraded shares of Lululemon Athletica from an overweight rating to an equal weight rating and dropped their price objective for the company from $74.00 to $70.00 in a research note on Friday, September 2nd. Jefferies Group cut shares of Lululemon Athletica from a buy rating to a hold rating and decreased their price target for the company from $80.00 to $76.00 in a research report on Sunday, September 4th. They noted that the move was a valuation call. Canaccord Genuity decreased their price target on shares of Lululemon Athletica from $70.00 to $65.00 and set a hold rating for the company in a research report on Monday, September 5th. Royal Bank Of Canada restated an outperform rating and issued a $80.00 price target (up from $75.00) on shares of Lululemon Athletica in a research report on Thursday, June 9th. Finally, Oppenheimer Holdings Inc. restated a buy rating on shares of Lululemon Athletica in a research report on Wednesday, June 15th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $71.86.
Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, September 1st. The apparel retailer reported $0.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The business earned $514.52 million during the quarter. Lululemon Athletica had a net margin of 12.28% and a return on equity of 23.73%. Lululemon Athletica’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS.
Hedge funds have recently bought and sold shares of the company. Jennison Associates LLC increased its stake 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 worth $460,496,000 after buying an additional 5,510,939 shares during the period. Lone Pine Capital LLC increased its stake 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 worth $547,325,000 after buying an additional 2,224,220 shares during the period. 1832 Asset Management L.P. increased its stake 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 worth $84,504,000 after buying an additional 740,350 shares during the period. Schroder Investment Management Group bought a new stake in Lululemon Athletica during the second quarter worth about $39,857,000. Finally, First Trust Advisors LP bought a new stake in Lululemon Athletica during the second quarter worth about $26,135,000. Institutional investors and hedge funds own 94.76% of the company’s stock.
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.
Receive News & Ratings for Lululemon Athletica Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica Inc. and related companies with MarketBeat.com's FREE daily email newsletter.