Lululemon Athletica (LULU) Downgraded by BidaskClub

BidaskClub downgraded shares of Lululemon Athletica (NASDAQ:LULU) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.

A number of other brokerages have also recently issued reports on LULU. Wedbush upped their target price on Lululemon Athletica from $110.00 to $176.00 and gave the company a neutral rating in a research report on Tuesday, October 2nd. B. Riley reissued a neutral rating and issued a $155.00 target price (up from $141.00) on shares of Lululemon Athletica in a research report on Tuesday, October 2nd. Royal Bank of Canada upped their target price on Lululemon Athletica from $160.00 to $185.00 and gave the company an outperform rating in a research report on Tuesday, October 2nd. They noted that the move was a valuation call. Cowen set a $185.00 target price on Lululemon Athletica and gave the company an outperform rating in a research report on Tuesday, October 2nd. Finally, MKM Partners set a $174.00 target price on Lululemon Athletica and gave the company a buy rating in a research report on Tuesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $153.48.

Shares of NASDAQ LULU opened at $143.71 on Tuesday. The stock has a market capitalization of $21.51 billion, a P/E ratio of 55.25, a PEG ratio of 2.37 and a beta of 0.10. Lululemon Athletica has a 52-week low of $57.40 and a 52-week high of $164.79.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 30th. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.22. The firm had revenue of $723.50 million during the quarter, compared to analysts’ expectations of $669.14 million. Lululemon Athletica had a return on equity of 28.67% and a net margin of 11.97%. During the same period in the prior year, the firm earned $0.39 EPS. Research analysts anticipate that Lululemon Athletica will post 3.57 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Hartford Investment Management Co. acquired a new stake in shares of Lululemon Athletica in the 2nd quarter valued at approximately $404,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Lululemon Athletica by 22.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,792 shares of the apparel retailer’s stock valued at $473,000 after buying an additional 686 shares during the period. American Century Companies Inc. acquired a new stake in shares of Lululemon Athletica in the 2nd quarter valued at approximately $39,236,000. Cornerstone Wealth Management LLC acquired a new stake in shares of Lululemon Athletica in the 2nd quarter valued at approximately $198,000. Finally, Korea Investment CORP lifted its holdings in shares of Lululemon Athletica by 6.6% in the 2nd quarter. Korea Investment CORP now owns 467,370 shares of the apparel retailer’s stock valued at $58,351,000 after buying an additional 29,000 shares during the period. 79.57% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Company Profile

lululemon athletica inc., an athletic apparel company, together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.

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