Lululemon Athletica (NASDAQ:LULU) Shares Gap Down - Should You Sell?

Lululemon Athletica Inc. (NASDAQ:LULU - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $282.75, but opened at $243.98. Lululemon Athletica shares last traded at $248.38, with a volume of 1,913,599 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LULU. Needham & Company LLC reduced their price objective on Lululemon Athletica from $475.00 to $430.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Telsey Advisory Group lowered their price objective on shares of Lululemon Athletica from $445.00 to $385.00 and set an "outperform" rating on the stock in a research report on Friday, March 28th. UBS Group dropped their target price on shares of Lululemon Athletica from $376.00 to $335.00 and set a "neutral" rating on the stock in a report on Friday, March 28th. Piper Sandler decreased their target price on shares of Lululemon Athletica from $340.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, March 28th. Finally, Citigroup set a $330.00 price objective on Lululemon Athletica and gave the stock a "negative" rating in a report on Friday, March 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of "Moderate Buy" and a consensus target price of $378.31.

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Lululemon Athletica Stock Up 3.1 %

The company's 50 day simple moving average is $353.59 and its 200-day simple moving average is $339.97. The firm has a market cap of $32.11 billion, a P/E ratio of 19.04, a P/E/G ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the company posted $5.29 EPS. Lululemon Athletica's revenue was up 12.3% on a year-over-year basis. Equities research analysts predict that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Institutional Investors Weigh In On Lululemon Athletica

Several institutional investors have recently bought and sold shares of the company. TCTC Holdings LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter valued at about $26,000. Anderson Financial Strategies LLC acquired a new position in Lululemon Athletica during the 4th quarter valued at approximately $30,000. Kestra Investment Management LLC purchased a new position in shares of Lululemon Athletica in the fourth quarter worth $32,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth $32,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer's stock valued at $33,000 after buying an additional 65 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

About Lululemon Athletica

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.