lululemon athletica inc.’s (LULU) “Sell” Rating Reiterated at Canaccord Genuity
lululemon athletica inc. (NASDAQ:LULU)‘s stock had its “sell” rating reissued by stock analysts at Canaccord Genuity in a research report issued to clients and investors on Friday. They presently have a $43.00 target price on the apparel retailer’s stock. Canaccord Genuity’s target price would indicate a potential downside of 26.62% from the stock’s current price.
The analysts wrote, “We believe this analogy describes the unfolding trend shift from athletic apparel to denim. In the third installment of our LULU survey, we saw a decline in LULU customers’ purchase intent of yoga leggings. In fact, wave #3 of our survey showed the most significant deterioration of metrics to date, thus further supporting our SELL thesis and the risks that LULU faces from shifting fashion trends and increasing competition. The combination of declining purchase intent, increasing signals of denim gaining traction, peaking margins, and a more focused Athleta creates a risk/reward that skews heavily downward, in our opinion. We are also witnessing some shifts in brand preferences away from Nike and Under Armour, and in favor of Athleta.””
Several other analysts have also recently commented on the stock. Vetr raised shares of lululemon athletica inc. from a “buy” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, August 30th. Nomura reissued a “buy” rating and set a $67.00 price target (up from $65.00) on shares of lululemon athletica inc. in a research note on Friday, September 1st. Deutsche Bank AG reissued a “hold” rating and set a $59.00 price target on shares of lululemon athletica inc. in a research note on Friday, September 1st. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $51.00 price target (down from $57.00) on shares of lululemon athletica inc. in a research note on Wednesday, May 31st. Finally, FBR & Co reissued a “hold” rating and set a $55.00 price target on shares of lululemon athletica inc. in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have assigned 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 an average price target of $65.71.
Shares of lululemon athletica inc. (NASDAQ LULU) traded down 0.78% during trading on Friday, hitting $58.14. The stock had a trading volume of 1,512,058 shares. lululemon athletica inc. has a one year low of $47.26 and a one year high of $72.70. The stock’s 50-day moving average price is $60.45 and its 200 day moving average price is $56.95. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 28.06 and a beta of 0.22.
lululemon athletica inc. (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $0.39 EPS 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 business had revenue of $581.10 million for the quarter, compared to analysts’ expectations of $567.40 million. During the same period in the prior year, the firm earned $0.38 earnings per share. lululemon athletica inc.’s revenue was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that lululemon athletica inc. will post $2.41 EPS for the current year.
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In other news, Director Glenn Murphy acquired 97,728 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was bought at an average price of $55.50 per share, with a total value of $5,423,904.00. Following the transaction, the director now directly owns 100,344 shares in the company, valued at approximately $5,569,092. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.
Several hedge funds have recently made changes to their positions in LULU. IHT Wealth Management LLC boosted its holdings in shares of lululemon athletica inc. by 591.0% during the 2nd quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock worth $105,000 after buying an additional 1,182 shares during the period. Exane Derivatives bought a new stake in shares of lululemon athletica inc. during the 2nd quarter worth about $106,000. Global X Management Co. LLC boosted its holdings in shares of lululemon athletica inc. by 39.7% during the 2nd quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock worth $151,000 after buying an additional 719 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of lululemon athletica inc. by 40.0% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the apparel retailer’s stock worth $182,000 after buying an additional 1,000 shares during the period. Finally, Suntrust Banks Inc. bought a new stake in shares of lululemon athletica inc. during the 1st quarter worth about $206,000. 79.45% of the stock is owned by institutional investors and hedge funds.
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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