lululemon athletica inc. (LULU) Rating Lowered to Hold at Zacks Investment Research
lululemon athletica inc. (NASDAQ:LULU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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.”
Several other research firms have also issued reports on LULU. Needham & Company LLC set a $69.00 price target on shares of lululemon athletica inc. and gave the stock a “buy” rating in a research report on Monday, October 16th. KeyCorp reissued a “hold” rating on shares of lululemon athletica inc. in a research report on Friday, August 25th. J P Morgan Chase & Co reissued a “buy” rating and issued a $71.00 price target on shares of lululemon athletica inc. in a research report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and issued a $60.00 price target (up previously from $56.00) on shares of lululemon athletica inc. in a research report on Friday, September 1st. Finally, FBR & Co reissued a “hold” rating and issued a $55.00 price target on shares of lululemon athletica inc. in a research report on Friday, September 1st. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $65.67.
lululemon athletica inc. (NASDAQ LULU) traded down $0.27 during trading hours on Tuesday, reaching $64.60. 1,789,200 shares of the company traded hands, compared to its average volume of 2,683,945. lululemon athletica inc. has a 52-week low of $47.26 and a 52-week high of $72.70. The firm has a market capitalization of $8,782.17, a price-to-earnings ratio of 29.76, a PEG ratio of 2.25 and a beta of 0.15.
lululemon athletica inc. (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $0.39 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $567.40 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. research analysts forecast that lululemon athletica inc. will post 2.43 earnings per share for the current year.
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A number of hedge funds have recently modified their holdings of LULU. IHT Wealth Management LLC increased its stake in lululemon athletica inc. 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 buying an additional 1,182 shares during the last quarter. Exane Derivatives acquired a new stake in lululemon athletica inc. in the 2nd quarter valued at $106,000. Global X Management Co. LLC increased its stake in lululemon athletica inc. 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. Thompson Siegel & Walmsley LLC acquired a new stake in lululemon athletica inc. in the 3rd quarter valued at $156,000. Finally, Oakbrook Investments LLC acquired a new stake in lululemon athletica inc. in the 3rd quarter valued at $202,000. 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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