Goldman Sachs Group Inc. Reiterates Sell Rating for Lululemon Athletica Inc. (LULU)
Lululemon Athletica Inc. (NASDAQ:LULU)‘s stock had its “sell” rating reiterated by equities researchers at Goldman Sachs Group Inc. in a research note issued on Monday. They currently have a $46.00 target price on the apparel retailer’s stock. Goldman Sachs Group Inc.’s price objective suggests a potential downside of 18.29% from the company’s previous close.
LULU has been the topic of several other research reports. Piper Jaffray Cos. upgraded Lululemon Athletica from a “hold” rating to a “buy” rating in a report on Friday, September 9th. FBR & Co reiterated an “underperform” rating and issued a $40.00 price objective on shares of Lululemon Athletica in a report on Friday, September 2nd. Vetr upgraded Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a report on Friday, September 30th. Credit Suisse Group AG reiterated a “buy” rating and issued a $83.00 price objective on shares of Lululemon Athletica in a report on Tuesday, June 21st. Finally, Barclays PLC reissued an “overweight” rating and issued a $85.00 target price on shares of Lululemon Athletica in a research note on Sunday, September 4th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Lululemon Athletica has an average rating of “Hold” and an average price target of $71.86.
Lululemon Athletica (NASDAQ:LULU) opened at 56.30 on Monday. The company’s 50-day moving average price is $63.72 and its 200-day moving average price is $69.03. The firm has a market capitalization of $7.72 billion, a P/E ratio of 28.89 and a beta of 0.61. Lululemon Athletica has a 1-year low of $43.14 and a 1-year high of $81.81.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, September 1st. The apparel retailer reported $0.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. The firm had revenue of $514.52 million for the quarter. Lululemon Athletica had a return on equity of 23.73% and a net margin of 12.28%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. Equities research analysts expect that Lululemon Athletica will post $2.12 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in Lululemon Athletica by 2.5% in the first quarter. Legal & General Group Plc now owns 403,261 shares of the apparel retailer’s stock worth $27,305,000 after buying an additional 9,987 shares during the period. Geode Capital Management LLC raised its stake in Lululemon Athletica by 9.2% in the first quarter. Geode Capital Management LLC now owns 765,820 shares of the apparel retailer’s stock worth $51,825,000 after buying an additional 64,523 shares during the period. RS Investment Management Co. LLC purchased a new stake in Lululemon Athletica during the second quarter worth $22,853,000. State Street Corp raised its stake in Lululemon Athletica by 3.7% in the first quarter. State Street Corp now owns 2,036,631 shares of the apparel retailer’s stock worth $137,900,000 after buying an additional 72,362 shares during the period. Finally, Mizuho Asset Management Co. Ltd. raised its stake in Lululemon Athletica by 128.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,360 shares of the apparel retailer’s stock worth $100,000 after buying an additional 765 shares during the period. 94.76% of the stock is currently owned by institutional investors.
About Lululemon Athletica
Lululemon Athletica Inc is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth.
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