Lululemon Athletica (NASDAQ:LULU) Shares Gap Down Following Analyst Downgrade

Lululemon Athletica Inc. (NASDAQ:LULU - Get Free Report)'s stock price gapped down before the market opened on Friday after KeyCorp lowered their price target on the stock from $400.00 to $350.00. The stock had previously closed at $330.78, but opened at $271.18. KeyCorp currently has an overweight rating on the stock. Lululemon Athletica shares last traded at $264.80, with a volume of 5,268,253 shares traded.

Other analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price objective on Lululemon Athletica from $424.00 to $353.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Telsey Advisory Group reissued an "outperform" rating and issued a $385.00 target price on shares of Lululemon Athletica in a report on Monday. Morgan Stanley dropped their price target on Lululemon Athletica from $373.00 to $346.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Evercore ISI increased their price objective on Lululemon Athletica from $320.00 to $400.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Piper Sandler raised their price target on Lululemon Athletica from $280.00 to $315.00 and gave the stock a "neutral" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $361.48.

Institutional Inflows and Outflows

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

Lululemon Athletica Stock Performance

The firm has a market cap of $31.94 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. The company's fifty day moving average is $286.22 and its two-hundred day moving average is $338.13.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting the consensus estimate of $2.60. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.54 EPS. As a group, analysts forecast that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

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.

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