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

Shares of Lululemon Athletica Inc. (NASDAQ:LULU) gapped down prior to trading on Friday after Wells Fargo & Company lowered their price target on the stock from $375.00 to $315.00. The stock had previously closed at $341.53, but opened at $301.05. Wells Fargo & Company currently has an equal weight rating on the stock. Lululemon Athletica shares last traded at $287.81, with a volume of 4,253,418 shares.

LULU has been the topic of several other reports. Deutsche Bank Aktiengesellschaft lifted their target price on Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a research report on Monday, December 9th. UBS Group dropped their price objective on Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating for the company in a research note on Friday. Stifel Nicolaus cut their target price on Lululemon Athletica from $438.00 to $424.00 and set a “buy” rating for the company in a research report on Friday. Oppenheimer boosted their price target on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Truist Financial raised their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.86.

Institutional Trading of Lululemon Athletica

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Beacon Capital Management LLC lifted its stake in shares of Lululemon Athletica by 6.9% during the 4th quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer’s stock worth $142,000 after purchasing an additional 24 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Lululemon Athletica by 0.7% in the 4th quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer’s stock valued at $1,353,000 after buying an additional 25 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in shares of Lululemon Athletica by 2.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock worth $389,000 after buying an additional 26 shares during the last quarter. Dnca Finance raised its stake in shares of Lululemon Athletica by 15.1% during the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer’s stock worth $76,000 after acquiring an additional 26 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in Lululemon Athletica by 9.4% during the fourth quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer’s stock valued at $124,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Down 15.1 %

The company’s 50 day simple moving average is $366.25 and its two-hundred day simple moving average is $338.67. The company has a market capitalization of $35.32 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.85 by $0.29. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $5.29 EPS. Analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

About Lululemon Athletica

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.