Lululemon Athletica (NASDAQ:LULU) Trading Down 1.1%

Shares of Lululemon Athletica Inc. (NASDAQ:LULU - Get Free Report) fell 1.1% during trading on Wednesday . The stock traded as low as $253.00 and last traded at $255.26. 421,202 shares were traded during trading, a decline of 80% from the average session volume of 2,131,215 shares. The stock had previously closed at $258.08.

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Analysts Set New Price Targets

A number of equities analysts have weighed in on LULU shares. BTIG Research assumed coverage on shares of Lululemon Athletica in a report on Wednesday, May 8th. They issued a "buy" rating and a $425.00 price target on the stock. Oppenheimer reissued an "outperform" rating and set a $445.00 price target on shares of Lululemon Athletica in a research report on Thursday, June 6th. HSBC upgraded Lululemon Athletica from a "hold" rating to a "buy" rating and upped their price target for the stock from $405.00 to $425.00 in a research note on Thursday, June 6th. Sanford C. Bernstein decreased their target price on Lululemon Athletica from $345.00 to $325.00 and set a "market perform" rating for the company in a report on Friday, August 30th. Finally, The Goldman Sachs Group downgraded shares of Lululemon Athletica from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $463.00 to $286.00 in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica has a consensus rating of "Moderate Buy" and an average price target of $354.94.

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Lululemon Athletica Trading Down 1.0 %

The stock's 50-day moving average price is $269.49 and its 200-day moving average price is $335.41. The company has a market capitalization of $31.94 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.40 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.69% and a net margin of 16.34%. The business had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the prior year, the firm earned $2.68 EPS. The business's quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that Lululemon Athletica Inc. will post 13.9 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has authorized a share repurchase program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Lululemon Athletica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidemark LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter worth $26,000. Scarborough Advisors LLC acquired a new stake in Lululemon Athletica in the 4th quarter valued at about $26,000. Richardson Financial Services Inc. acquired a new stake in Lululemon Athletica in the 4th quarter valued at about $31,000. True Wealth Design LLC boosted its position in shares of Lululemon Athletica by 2,950.0% during the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer's stock valued at $31,000 after purchasing an additional 59 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer's stock worth $27,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 85.20% of the company's stock.

About Lululemon Athletica

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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.

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