Lululemon Athletica (NASDAQ:LULU) Shares Down 2%

Lululemon Athletica Inc. (NASDAQ:LULU)’s stock price traded down 2% during mid-day trading on Monday . The company traded as low as $283.01 and last traded at $285.26. 644,336 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,036,131 shares. The stock had previously closed at $291.06.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LULU shares. JPMorgan Chase & Co. decreased their target price on shares of Lululemon Athletica from $509.00 to $457.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Evercore ISI dropped their target price on shares of Lululemon Athletica from $515.00 to $400.00 in a report on Wednesday, June 5th. Jefferies Financial Group cut their target price on Lululemon Athletica from $240.00 to $220.00 and set an “underperform” rating for the company in a research note on Wednesday, July 10th. Robert W. Baird dropped their price objective on shares of Lululemon Athletica from $505.00 to $470.00 and set an “outperform” rating for the company in a report on Wednesday, July 3rd. Finally, Bank of America increased their price target on shares of Lululemon Athletica from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $431.29.

Lululemon Athletica Price Performance

The stock has a market cap of $35.52 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 1.45 and a beta of 1.26. The stock’s 50-day moving average is $314.15 and its 200 day moving average is $392.14.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. Lululemon Athletica’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.28 earnings per share. Analysts anticipate that Lululemon Athletica Inc. will post 14.29 EPS for the current year.

Lululemon Athletica announced that its board has authorized a stock buyback plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LULU. Valley National Advisers Inc. increased its position in Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Tidemark LLC acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth about $26,000. Benjamin Edwards Inc. lifted its stake in shares of Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 44 shares during the period. Finally, Riverview Trust Co acquired a new stake in Lululemon Athletica during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Company Profile

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.