Lululemon Athletica (NASDAQ:LULU) Trading Down 1%

Lululemon Athletica Inc. (NASDAQ:LULU) shares were down 1% on Tuesday . The company traded as low as $244.88 and last traded at $246.18. Approximately 378,869 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 2,133,327 shares. The stock had previously closed at $248.59.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group lowered their price target on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Robert W. Baird cut their price target on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Guggenheim decreased their price objective on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, August 30th. KeyCorp cut their target price on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $354.94.

Lululemon Athletica Stock Down 0.1 %

The firm has a market capitalization of $31.88 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 1.37 and a beta of 1.25. The business has a 50-day moving average of $263.45 and a two-hundred day moving average of $327.92.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm posted $2.68 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts predict that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

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

Insider Transactions at Lululemon Athletica

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LULU. Value Star Asset Management Hong Kong Ltd raised its stake in shares of Lululemon Athletica by 19,890.3% in the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after acquiring an additional 4,630,466 shares during the last quarter. Vanguard Group Inc. raised its position in Lululemon Athletica by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after purchasing an additional 2,369,119 shares during the last quarter. Norges Bank acquired a new position in Lululemon Athletica in the fourth quarter worth $236,378,000. Marshall Wace LLP grew its holdings in shares of Lululemon Athletica by 359.4% during the second quarter. Marshall Wace LLP now owns 204,500 shares of the apparel retailer’s stock worth $61,084,000 after purchasing an additional 283,344 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Lululemon Athletica by 32.7% during the fourth quarter. Northern Trust Corp now owns 1,046,011 shares of the apparel retailer’s stock worth $534,815,000 after purchasing an additional 257,944 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.