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

According to Zacks, “Lululemon has surpassed the industry in the past three months, mainly driven by its focus on strategy for 2020, as part of which it aims to generate revenues of $4 billion. To achieve this, the company is committed toward product innovation, building store fleet in North America, expanding digital business and global expansion. All these factors helped Lululemon to post robust numbers in second-quarter fiscal 2017, even amid a tough retail landscape. Both sales and earnings topped estimates and grew year over year. While the bottom line marked its 2nd consecutive beat, the top line recorded its 7th straight quarter of positive surprise. Also, sturdy e-Commerce growth fueled comps. Apart from this, the company is on track with ivivva’s remodeling. The solid results and favorable third quarter trends encouraged management to raise its fiscal 2017 view. However, stiff competition and volatile consumer spending patterns may pose concerns.”

Several other equities analysts have also commented on the company. Sanford C. Bernstein assumed coverage on lululemon athletica inc. in a research report on Tuesday, September 12th. They set a market perform rating and a $66.00 price objective on the stock. Susquehanna Bancshares Inc upgraded lululemon athletica inc. from a neutral rating to a positive rating and set a $64.00 price target on the stock in a research report on Tuesday, September 5th. UBS AG upgraded lululemon athletica inc. from a neutral rating to a positive rating in a research report on Tuesday, September 5th. Deutsche Bank AG restated a hold rating and set a $59.00 price target on shares of lululemon athletica inc. in a research report on Friday, September 1st. Finally, Buckingham Research restated a neutral rating and set a $55.00 price target on shares of lululemon athletica inc. in a research report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. lululemon athletica inc. has a consensus rating of Hold and an average target price of $65.68.

lululemon athletica inc. (NASDAQ LULU) opened at 60.60 on Wednesday. lululemon athletica inc. has a 1-year low of $47.26 and a 1-year high of $72.70. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 29.25 and a beta of 0.22. The company has a 50 day moving average price of $60.59 and a 200-day moving average price of $57.17.

lululemon athletica inc. (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 31st. The apparel retailer reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. The firm had revenue of $581.10 million for the quarter, compared to analyst estimates of $567.40 million. lululemon athletica inc. had a return on equity of 22.51% and a net margin of 11.68%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 EPS. On average, analysts forecast that lululemon athletica inc. will post $2.41 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “lululemon athletica inc. (LULU) Downgraded by Zacks Investment Research to Hold” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.thecerbatgem.com/2017/09/17/lululemon-athletica-inc-lulu-downgraded-by-zacks-investment-research-to-hold.html.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC grew its holdings in shares of lululemon athletica inc. by 1.9% in the first quarter. Penserra Capital Management LLC now owns 4,600 shares of the apparel retailer’s stock worth $238,000 after acquiring an additional 84 shares during the period. Comerica Bank grew its holdings in shares of lululemon athletica inc. by 0.9% in the first quarter. Comerica Bank now owns 11,149 shares of the apparel retailer’s stock worth $588,000 after acquiring an additional 97 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of lululemon athletica inc. by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 59,288 shares of the apparel retailer’s stock worth $3,072,000 after acquiring an additional 173 shares during the period. Suntrust Banks Inc. grew its holdings in shares of lululemon athletica inc. by 5.9% in the second quarter. Suntrust Banks Inc. now owns 4,239 shares of the apparel retailer’s stock worth $252,000 after acquiring an additional 237 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of lululemon athletica inc. by 5.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,851 shares of the apparel retailer’s stock worth $303,000 after acquiring an additional 287 shares during the period. 79.58% of the stock is owned by institutional investors.

lululemon athletica inc. Company Profile

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.

Get a free copy of the Zacks research report on lululemon athletica inc. (LULU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Stock Ratings for lululemon athletica inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for lululemon athletica inc. and related stocks with our FREE daily email newsletter.