lululemon athletica (NASDAQ:LULU) Sets New 12-Month Low on Analyst Downgrade

lululemon athletica inc. (NASDAQ:LULU)’s share price hit a new 52-week low on Wednesday after Robert W. Baird lowered their price target on the stock from $190.00 to $170.00. Robert W. Baird currently has a neutral rating on the stock. lululemon athletica traded as low as $127.80 and last traded at $130.21, with a volume of 3363948 shares traded. The stock had previously closed at $128.98.

A number of other research analysts also recently weighed in on LULU. Telsey Advisory Group decreased their price objective on shares of lululemon athletica from $215.00 to $175.00 and set a “market perform” rating for the company in a research report on Wednesday, March 18th. Truist Financial cut their target price on shares of lululemon athletica from $200.00 to $170.00 and set a “hold” rating for the company in a research note on Wednesday, March 18th. Wells Fargo & Company cut their target price on shares of lululemon athletica from $175.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 18th. Bank of America cut their target price on shares of lululemon athletica from $220.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of lululemon athletica in a research note on Thursday, January 8th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twenty-eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $203.80.

Insider Activity at lululemon athletica

In related news, insider Nicole Neuburger sold 622 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $161.00, for a total transaction of $100,142.00. Following the completion of the sale, the insider owned 19,156 shares of the company’s stock, valued at approximately $3,084,116. This represents a 3.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andre Maestrini acquired 3,275 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were acquired at an average cost of $151.02 per share, with a total value of $494,590.50. Following the purchase, the chief executive officer owned 34,551 shares in the company, valued at $5,217,892.02. This represents a 10.47% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of lululemon athletica

Several hedge funds have recently made changes to their positions in LULU. Brighton Jones LLC purchased a new position in shares of lululemon athletica during the 4th quarter worth approximately $429,000. NewEdge Advisors LLC raised its position in lululemon athletica by 5.1% in the first quarter. NewEdge Advisors LLC now owns 3,848 shares of the apparel retailer’s stock valued at $1,089,000 after purchasing an additional 186 shares during the period. Glenview Trust co raised its position in lululemon athletica by 39.9% in the second quarter. Glenview Trust co now owns 996 shares of the apparel retailer’s stock valued at $237,000 after purchasing an additional 284 shares during the period. Diversify Advisory Services LLC purchased a new stake in lululemon athletica in the second quarter valued at approximately $508,000. Finally, Raymond James Financial Inc. raised its position in lululemon athletica by 10.7% in the second quarter. Raymond James Financial Inc. now owns 112,632 shares of the apparel retailer’s stock valued at $26,759,000 after purchasing an additional 10,891 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

lululemon athletica Stock Down 0.6%

The company has a market cap of $16.03 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 4.06 and a beta of 0.90. The business has a 50-day simple moving average of $159.15 and a 200-day simple moving average of $176.79.

lululemon athletica (NASDAQ:LULU) last released its earnings results on Tuesday, March 17th. The apparel retailer reported $5.01 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.23. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.59 billion. lululemon athletica had a return on equity of 34.82% and a net margin of 14.22%.lululemon athletica’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $6.14 EPS. As a group, equities research analysts predict that lululemon athletica inc. will post 12.31 EPS for the current fiscal year.

About lululemon athletica

lululemon athletica inc. is a design-focused athletic apparel company known for performance-oriented apparel, footwear and accessories. The company’s product portfolio centers on technical apparel for yoga, running, training and everyday active lifestyle use and includes tops, bottoms, outerwear, underwear, bags and a growing footwear assortment. lululemon emphasizes fabric science and product innovation, marketing garments that blend performance features with lifestyle styling.

Products are developed in-house and produced through a network of third-party manufacturers.