Lululemon Athletica (NASDAQ:LULU) Shares Gap Down After Analyst Downgrade

Shares of Lululemon Athletica Inc. (NASDAQ:LULU) gapped down prior to trading on Friday after BTIG Research lowered their price target on the stock from $470.00 to $420.00. The stock had previously closed at $341.53, but opened at $301.05. BTIG Research currently has a buy rating on the stock. Lululemon Athletica shares last traded at $287.81, with a volume of 4,253,418 shares trading hands.

LULU has been the topic of a number of other reports. KeyCorp decreased their price objective on shares of Lululemon Athletica from $420.00 to $400.00 and set an “overweight” rating on the stock in a research note on Friday. BMO Capital Markets lowered their price target on shares of Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating for the company in a report on Friday. Stifel Nicolaus reduced their price target on Lululemon Athletica from $438.00 to $424.00 and set a “buy” rating on the stock in a report on Friday. Oppenheimer raised their target price on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Piper Sandler decreased their target price on shares of Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $380.72.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fairtree Asset Management Pty Ltd purchased a new position in shares of Lululemon Athletica in the fourth quarter valued at about $497,000. 111 Capital bought a new position in Lululemon Athletica during the 4th quarter valued at approximately $3,362,000. NorthCrest Asset Manangement LLC lifted its holdings in Lululemon Athletica by 6.3% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,198 shares of the apparel retailer’s stock worth $458,000 after buying an additional 71 shares during the period. PKO Investment Management Joint Stock Co bought a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $1,912,000. Finally, Wealthedge Investment Advisors LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at approximately $1,257,000. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Down 14.2 %

The business has a fifty day moving average of $364.63 and a 200 day moving average of $339.62. The company has a market cap of $35.69 billion, a P/E ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, topping the consensus estimate of $5.85 by $0.29. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $5.29 EPS. On average, sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

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.