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

Zacks Investment Research lowered shares of lululemon athletica inc. (NASDAQ:LULU) from a buy rating to a hold rating in a research note issued to investors 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.”

LULU has been the subject of several other reports. Cowen and Company restated an outperform rating and set a $68.00 target price (up from $67.00) on shares of lululemon athletica inc. in a report on Friday, September 1st. Credit Suisse Group set a $56.00 target price on shares of lululemon athletica inc. and gave the company a hold rating in a report on Friday, August 25th. Instinet restated a buy rating and set a $67.00 target price (up from $65.00) on shares of lululemon athletica inc. in a report on Friday, September 1st. Robert W. Baird set a $70.00 target price on shares of lululemon athletica inc. and gave the company a buy rating in a report on Tuesday, August 29th. Finally, Buckingham Research restated a neutral rating and set a $55.00 target price on shares of lululemon athletica inc. in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and an average price target of $65.67.

lululemon athletica inc. (NASDAQ LULU) opened at $66.31 on Tuesday. lululemon athletica inc. has a twelve month low of $47.26 and a twelve month high of $72.70. The firm has a market cap of $8,900.00, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.25 and a beta of 0.15.

lululemon athletica inc. (NASDAQ:LULU) last posted its earnings results on Thursday, August 31st. The apparel retailer reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.04. lululemon athletica inc. had a net margin of 11.68% and a return on equity of 22.51%. The firm had revenue of $581.10 million during the quarter, compared to the consensus estimate of $567.40 million. During the same period last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. analysts forecast that lululemon athletica inc. will post 2.43 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in LULU. IHT Wealth Management LLC increased its stake in lululemon athletica inc. by 591.0% during the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after purchasing an additional 1,182 shares during the last quarter. Exane Derivatives bought a new stake in lululemon athletica inc. during the second quarter valued at $106,000. Zions Bancorporation increased its stake in lululemon athletica inc. by 183.2% during the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after purchasing an additional 1,356 shares during the last quarter. Global X Management Co. LLC increased its stake in lululemon athletica inc. by 39.7% during the second quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock valued at $151,000 after purchasing an additional 719 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new stake in lululemon athletica inc. during the third quarter valued at $156,000. Hedge funds and other institutional investors own 81.14% 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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