Lululemon Athletica (NASDAQ:LULU) Shares Gap Down to $308.30

Lululemon Athletica Inc. (NASDAQ:LULU)’s share price gapped down before the market opened on Friday . The stock had previously closed at $308.30, but opened at $302.00. Lululemon Athletica shares last traded at $300.81, with a volume of 332,091 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LULU shares. Needham & Company LLC reduced their price target on Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Sanford C. Bernstein upped their price target on Lululemon Athletica from $376.00 to $382.00 and gave the stock a “market perform” rating in a research report on Friday, June 7th. The Goldman Sachs Group cut their target price on Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Stifel Nicolaus upped their target price on Lululemon Athletica from $410.00 to $416.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Telsey Advisory Group cut their target price on Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $433.06.

Lululemon Athletica Trading Down 2.5 %

The stock’s fifty day moving average price is $328.92 and its 200-day moving average price is $410.30. The firm has a market cap of $37.58 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 1.52 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.28 EPS. Analysts predict that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

Lululemon Athletica announced that its board has initiated a stock buyback program on Wednesday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Lululemon Athletica

Several institutional investors have recently modified their holdings of the company. Valley National Advisers Inc. increased its stake in Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Tidemark LLC purchased a new stake in Lululemon Athletica during the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in Lululemon Athletica during the fourth quarter worth about $26,000. Benjamin Edwards Inc. boosted its holdings in Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after buying an additional 44 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Lululemon Athletica in the first quarter valued at about $29,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

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.