lululemon athletica inc. (LULU) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of lululemon athletica inc. (NASDAQ:LULU) from a buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Lululemon has surpassed the industry in the past three months, mainly driven by its focus on strategy for 2020, as part of which it aims to generate revenues of $4 billion. To achieve this, the company is committed toward product innovation, building store fleet in North America, expanding digital business and global expansion. All these factors helped Lululemon to post robust numbers in second-quarter fiscal 2017, even amid a tough retail landscape. Both sales and earnings topped estimates and grew year over year. While the bottom line marked its 2nd consecutive beat, the top line recorded its 7th straight quarter of positive surprise. Also, sturdy e-Commerce growth fueled comps. Apart from this, the company is on track with ivivva’s remodeling. The solid results and favorable third quarter trends encouraged management to raise its fiscal 2017 view. However, stiff competition and volatile consumer spending patterns may pose concerns.”

Several other equities research analysts also recently issued reports on LULU. UBS AG reiterated a neutral rating and issued a $54.00 price objective (down previously from $57.00) on shares of lululemon athletica inc. in a report on Tuesday, May 30th. Barclays PLC set a $85.00 price objective on lululemon athletica inc. and gave the company a buy rating in a report on Saturday, June 3rd. Oppenheimer Holdings, Inc. set a $65.00 price objective on lululemon athletica inc. and gave the company a buy rating in a report on Saturday, June 3rd. BMO Capital Markets set a $55.00 price objective on lululemon athletica inc. and gave the company a hold rating in a report on Tuesday, August 8th. Finally, Vetr upgraded lululemon athletica inc. from a hold rating to a buy rating and set a $63.40 price objective on the stock in a report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $65.71.

Shares of lululemon athletica inc. (NASDAQ:LULU) traded down 0.78% during trading on Tuesday, reaching $58.14. The company’s stock had a trading volume of 1,513,759 shares. The company has a market capitalization of $7.87 billion, a PE ratio of 28.06 and a beta of 0.22. lululemon athletica inc. has a 1-year low of $47.26 and a 1-year high of $72.70. The stock has a 50 day moving average of $60.45 and a 200-day moving average of $56.95.

lululemon athletica inc. (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, August 31st. The apparel retailer reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.04. The firm had revenue of $581.10 million for the quarter, compared to the consensus estimate of $567.40 million. lululemon athletica inc. had a return on equity of 22.51% and a net margin of 11.68%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. On average, analysts expect that lululemon athletica inc. will post $2.41 earnings per share for the current year.

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In other news, Director Glenn Murphy purchased 97,728 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were acquired at an average price of $55.50 per share, for a total transaction of $5,423,904.00. Following the acquisition, the director now directly owns 100,344 shares in the company, valued at approximately $5,569,092. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

A number of large investors have recently made changes to their positions in LULU. Bank of Montreal Can grew its holdings in lululemon athletica inc. by 6.7% during the 1st quarter. Bank of Montreal Can now owns 14,425 shares of the apparel retailer’s stock valued at $748,000 after buying an additional 902 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in lululemon athletica inc. by 80.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,358 shares of the apparel retailer’s stock valued at $226,000 after buying an additional 1,948 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in lululemon athletica inc. by 0.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 59,288 shares of the apparel retailer’s stock valued at $3,072,000 after buying an additional 173 shares during the last quarter. First Trust Advisors LP acquired a new stake in lululemon athletica inc. during the 1st quarter valued at $955,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in lululemon athletica inc. by 133.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,736 shares of the apparel retailer’s stock valued at $415,000 after buying an additional 4,426 shares during the last quarter. Hedge funds and other institutional investors own 79.45% of the company’s stock.

lululemon athletica inc. Company Profile

lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.

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