lululemon athletica (NASDAQ:LULU) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of lululemon athletica (NASDAQ:LULU) from a buy rating to a hold rating in a research note released on Tuesday, November 14th.

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.”

LULU has been the topic of several other research reports. B. Riley reissued a neutral rating on shares of lululemon athletica in a research note on Wednesday, November 1st. BMO Capital Markets set a $55.00 target price on shares of lululemon athletica and gave the company a hold rating in a research note on Tuesday, August 8th. Vetr raised shares of lululemon athletica from a hold rating to a buy rating and set a $63.40 target price on the stock in a research note on Thursday, August 10th. BidaskClub cut shares of lululemon athletica from a buy rating to a hold rating in a research note on Saturday, August 12th. Finally, Canaccord Genuity set a $43.00 target price on shares of lululemon athletica and gave the company a sell rating in a research note on Monday, October 16th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $65.85.

lululemon athletica (NASDAQ LULU) traded up $0.26 during mid-day trading on Tuesday, hitting $67.22. 1,783,521 shares of the company were exchanged, compared to its average volume of 1,265,707. lululemon athletica has a 1-year low of $47.26 and a 1-year high of $72.70. The firm has a market cap of $9,100.31, a PE ratio of 30.83, a PEG ratio of 2.49 and a beta of 0.18.

lululemon athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 31st. The apparel retailer reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. lululemon athletica had a net margin of 11.68% and a return on equity of 22.51%. The business had revenue of $581.10 million for the quarter, compared to analysts’ expectations of $567.40 million. During the same quarter last year, the company earned $0.38 EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. sell-side analysts predict that lululemon athletica will post 2.43 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC increased its stake in shares of lululemon athletica by 591.0% in the 2nd quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after acquiring an additional 1,182 shares during the last quarter. Exane Derivatives acquired a new position in lululemon athletica during the 2nd quarter worth approximately $106,000. Zions Bancorporation boosted its holdings in shares of lululemon athletica by 183.2% in the 3rd quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after buying an additional 1,356 shares during the last quarter. Global X Management Co. LLC boosted its holdings in shares of lululemon athletica by 39.7% in the 2nd quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock valued at $151,000 after buying an additional 719 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of lululemon athletica in the 3rd quarter valued at approximately $156,000. 79.44% of the stock is owned by institutional investors.

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lululemon athletica 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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