lululemon athletica inc. (NASDAQ:LULU)‘s stock had its “sell” rating reissued by Canaccord Genuity in a note issued to investors on Friday. They presently have a $43.00 price objective on the apparel retailer’s stock. Canaccord Genuity’s price objective would indicate a potential downside of 26.04% from the stock’s previous close.
The analysts wrote, “We believe this analogy describes the unfolding trend shift from athletic apparel to denim. In the third installment of our LULU survey, we saw a decline in LULU customers’ purchase intent of yoga leggings. In fact, wave #3 of our survey showed the most significant deterioration of metrics to date, thus further supporting our SELL thesis and the risks that LULU faces from shifting fashion trends and increasing competition. The combination of declining purchase intent, increasing signals of denim gaining traction, peaking margins, and a more focused Athleta creates a risk/reward that skews heavily downward, in our opinion. We are also witnessing some shifts in brand preferences away from Nike and Under Armour, and in favor of Athleta.””
A number of other equities analysts have also recently commented on LULU. Stifel Nicolaus set a $60.00 price target on lululemon athletica inc. and gave the stock a “buy” rating in a research note on Sunday, May 28th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $56.00 price target on shares of lululemon athletica inc. in a research note on Tuesday, May 30th. UBS AG reaffirmed a “neutral” rating and issued a $54.00 price target (down from $57.00) on shares of lululemon athletica inc. in a research note on Tuesday, May 30th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $51.00 price target (down from $57.00) on shares of lululemon athletica inc. in a research note on Wednesday, May 31st. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $58.00 price target (up from $56.00) on shares of lululemon athletica inc. in a research note on Friday, June 2nd. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $65.71.
Shares of lululemon athletica inc. (LULU) opened at 58.14 on Friday. The company has a market capitalization of $7.87 billion, a PE ratio of 28.06 and a beta of 0.22. lululemon athletica inc. has a one year low of $47.26 and a one year high of $72.70. The company has a 50-day moving average price of $60.45 and a 200 day moving average price of $56.95.
lululemon athletica inc. (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. The business had revenue of $581.10 million for the quarter, compared to analysts’ expectations of $567.40 million. lululemon athletica inc. had a return on equity of 22.51% and a net margin of 11.68%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. Equities analysts anticipate that lululemon athletica inc. will post $2.41 EPS for the current year.
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In other news, Director Glenn Murphy acquired 100,000 shares of lululemon athletica inc. stock in a transaction that occurred on Tuesday, June 27th. The stock was bought at an average price of $55.50 per share, for a total transaction of $5,550,000.00. Following the completion of the transaction, the director now owns 100,344 shares in the company, valued at $5,569,092. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of LULU. Canada Pension Plan Investment Board increased its position in lululemon athletica inc. by 80.8% during the first quarter. Canada Pension Plan Investment Board now owns 4,358 shares of the apparel retailer’s stock valued at $226,000 after acquiring an additional 1,948 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in lululemon athletica inc. by 0.3% during the first quarter. Great West Life Assurance Co. Can now owns 59,288 shares of the apparel retailer’s stock valued at $3,072,000 after purchasing an additional 173 shares during the period. First Trust Advisors LP bought a new stake in lululemon athletica inc. during the first quarter valued at about $955,000. Bank of New York Mellon Corp grew its holdings in lululemon athletica inc. by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 455,662 shares of the apparel retailer’s stock valued at $23,634,000 after purchasing an additional 9,375 shares during the period. Finally, Suntrust Banks Inc. bought a new stake in lululemon athletica inc. during the first quarter valued at about $206,000. Institutional investors own 79.45% of the company’s stock.
lululemon athletica inc. Company Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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