Zacks Investment Research cut shares of lululemon athletica inc. (NASDAQ:LULU) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

According to Zacks, “Lululemon’s shares have outperformed the industry in the last three months, mainly owing to solid first-quarter fiscal 2017 results. Further, the company is all set to utilize its capabilities built in fiscal 2015 over the next five years. In fact, by 2020, it aims to double its revenues to about $4 billion and more than double its earnings. Moreover, Lululemon’s eCommerce growth initiatives and ivivva remodeling bode well. We note that the company’s eCommerce comps improved in the low-double digits range at the start of the fiscal second-quarter, which led to solid comps guidance for the quarter. While its efforts to build upon eCommerce sales are paying off, in-store comps continue to be weak due to the soft traffic trends in the retail sector. Also, management tweaked revenue forecast for fiscal 2017, which indicates further trouble down the road. Estimates have been stable ahead of the second quarter earnings release.”

A number of other brokerages also recently commented on LULU. Vetr downgraded shares of lululemon athletica inc. from a buy rating to a hold rating and set a $54.75 price objective for the company. in a research report on Wednesday, May 10th. Jefferies Group LLC restated a hold rating and set a $56.00 price objective on shares of lululemon athletica inc. in a research report on Friday, July 14th. Deutsche Bank AG restated a hold rating and set a $59.00 price objective (up previously from $58.00) on shares of lululemon athletica inc. in a research report on Saturday, June 3rd. Goldman Sachs Group, Inc. (The) restated a neutral rating and set a $58.00 price objective (up previously from $56.00) on shares of lululemon athletica inc. in a research report on Friday, June 2nd. Finally, BidaskClub upgraded shares of lululemon athletica inc. from a hold rating to a buy rating in a research report on Wednesday, July 5th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $65.37.

Shares of lululemon athletica inc. (NASDAQ:LULU) traded up 0.32% during midday trading on Friday, reaching $60.21. 1,195,851 shares of the company’s stock were exchanged. The firm has a market cap of $8.23 billion, a PE ratio of 28.52 and a beta of 0.25. lululemon athletica inc. has a one year low of $47.26 and a one year high of $79.41. The stock’s 50-day moving average is $60.44 and its 200 day moving average is $57.77.

lululemon athletica inc. (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, June 1st. The apparel retailer reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. The company had revenue of $520.30 million during the quarter, compared to the consensus estimate of $513.99 million. lululemon athletica inc. had a net margin of 12.21% and a return on equity of 23.43%. lululemon athletica inc.’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. Analysts anticipate that lululemon athletica inc. will post $2.34 EPS for the current year.

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In other lululemon athletica inc. news, Director Glenn Murphy purchased 97,728 shares of lululemon athletica inc. stock in a transaction on Monday, June 26th. The shares were purchased at an average cost of $55.50 per share, with a total value of $5,423,904.00. Following the completion of the transaction, the director now directly owns 100,344 shares in the company, valued at approximately $5,569,092. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB boosted its position in shares of lululemon athletica inc. by 21.8% in the first quarter. Xact Kapitalforvaltning AB now owns 17,832 shares of the apparel retailer’s stock worth $925,000 after buying an additional 3,189 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of lululemon athletica inc. by 8.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 371,296 shares of the apparel retailer’s stock worth $19,260,000 after buying an additional 28,686 shares during the period. CIBC World Markets Inc. boosted its position in shares of lululemon athletica inc. by 6.6% in the first quarter. CIBC World Markets Inc. now owns 11,143 shares of the apparel retailer’s stock worth $578,000 after buying an additional 688 shares during the period. Stifel Financial Corp boosted its position in shares of lululemon athletica inc. by 49.1% in the first quarter. Stifel Financial Corp now owns 23,401 shares of the apparel retailer’s stock worth $1,207,000 after buying an additional 7,701 shares during the period. Finally, Morgan Stanley boosted its position in shares of lululemon athletica inc. by 55.2% in the first quarter. Morgan Stanley now owns 821,041 shares of the apparel retailer’s stock worth $42,587,000 after buying an additional 292,183 shares during the period. 80.64% of the stock is currently owned by hedge funds and other institutional investors.

About lululemon athletica inc.

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.

Analyst Recommendations for lululemon athletica inc. (NASDAQ:LULU)

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