Lululemon Athletica (NASDAQ:LULU) Shares Gap Down – Time to Sell?

Lululemon Athletica Inc. (NASDAQ:LULU)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $282.75, but opened at $243.98. Lululemon Athletica shares last traded at $248.38, with a volume of 1,913,599 shares.

Analyst Upgrades and Downgrades

LULU has been the topic of several research reports. UBS Group cut their price target on shares of Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating on the stock in a report on Friday, March 28th. Truist Financial cut their target price on shares of Lululemon Athletica from $460.00 to $380.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. KeyCorp decreased their price target on shares of Lululemon Athletica from $420.00 to $400.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Guggenheim raised their price objective on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. decreased their target price on Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $378.31.

Lululemon Athletica Stock Up 3.1 %

The company has a market capitalization of $32.11 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.22 and a beta of 1.31. The stock has a 50 day simple moving average of $353.59 and a 200 day simple moving average of $339.47.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. TCTC Holdings LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $26,000. Anderson Financial Strategies LLC bought a new stake in Lululemon Athletica during the 4th quarter valued at $30,000. Kestra Investment Management LLC acquired a new position in Lululemon Athletica during the 4th quarter worth $32,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Lululemon Athletica in the fourth quarter worth $32,000. Finally, Asset Planning Inc acquired a new position in shares of Lululemon Athletica during the fourth quarter valued at $33,000. Institutional investors own 85.20% of the company’s stock.

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.