Lululemon Athletica Inc. (LULU) Raised to Hold at Zacks Investment Research
Lululemon Athletica Inc. (NASDAQ:LULU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Lululemon remains prone to unfavorable currency movements, which also played spoilsport in the fiscal second quarter 2016. Despite a heartening outlook for the fiscal and the third quarter, the persistence of currency woes can hurt future results. Moreover, the fading popularity of athleisure wear is likely to take a toll on the company’s performance as denims are back in vogue with new styles and patterns attracting shoppers. Intense competition from other players also remains a headwind. However, estimates have been stable lately, ahead of the company's third quarter earnings release. Also, Lululemon exhibits immense long-term growth opportunity based on its potential to expand square footage and enhance its business globally. The company’s new strategy that outlines four major areas of growth, aimed at doubling revenue and more than doubling earnings by 2020, also bodes well.”
LULU has been the topic of several other reports. Piper Jaffray Cos. raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating in a research report on Friday, September 9th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Lululemon Athletica in a report on Thursday, October 6th. Citigroup Inc. lowered their target price on shares of Lululemon Athletica from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, September 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Lululemon Athletica in a report on Wednesday, August 31st. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Lululemon Athletica in a report on Friday, August 26th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Lululemon Athletica presently has an average rating of “Hold” and a consensus price target of $70.45.
Lululemon Athletica (NASDAQ:LULU) traded down 1.24% on Monday, hitting $57.27. 885,109 shares of the company traded hands. Lululemon Athletica has a 12 month low of $44.62 and a 12 month high of $81.81. The stock has a market cap of $7.85 billion, a PE ratio of 29.38 and a beta of 0.46. The stock’s 50-day moving average is $56.98 and its 200 day moving average is $67.43.
Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, September 1st. The apparel retailer reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Lululemon Athletica had a net margin of 12.28% and a return on equity of 23.73%. The company had revenue of $514.52 million for the quarter. During the same period in the previous year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts expect that Lululemon Athletica will post $2.13 earnings per share for the current fiscal year.
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Several institutional investors have recently bought and sold shares of LULU. Glenmede Trust Co. NA raised its position in Lululemon Athletica by 136.7% in the second quarter. Glenmede Trust Co. NA now owns 1,373 shares of the apparel retailer’s stock valued at $100,000 after buying an additional 793 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in Lululemon Athletica by 128.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,360 shares of the apparel retailer’s stock valued at $100,000 after buying an additional 765 shares during the period. Victory Capital Management Inc. raised its position in Lululemon Athletica by 131.7% in the second quarter. Victory Capital Management Inc. now owns 1,536 shares of the apparel retailer’s stock valued at $113,000 after buying an additional 873 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in Lululemon Athletica during the second quarter valued at $118,000. Finally, Advisor Group Inc. acquired a new position in Lululemon Athletica during the second quarter valued at $124,000. Institutional investors own 91.36% of the company’s stock.
About Lululemon Athletica
Lululemon Athletica Inc is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth.
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