Lululemon Athletica (NASDAQ:LULU) Downgraded to “Hold” Rating by Argus

Lululemon Athletica (NASDAQ:LULU) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat.com reports.

Several other brokerages have also issued reports on LULU. Robert W. Baird raised their price target on shares of Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Barclays decreased their target price on Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. KeyCorp dropped their price target on Lululemon Athletica from $420.00 to $400.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Telsey Advisory Group decreased their price objective on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Finally, Truist Financial dropped their price objective on shares of Lululemon Athletica from $460.00 to $380.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $380.72.

Lululemon Athletica Trading Up 1.1 %

Shares of LULU opened at $282.75 on Tuesday. The stock has a 50 day moving average of $358.96 and a 200 day moving average of $340.07. The company has a market capitalization of $34.43 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $5.29 EPS. As a group, equities research analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fairtree Asset Management Pty Ltd purchased a new position in Lululemon Athletica in the 4th quarter worth approximately $497,000. 111 Capital purchased a new stake in shares of Lululemon Athletica in the 4th quarter valued at $3,362,000. NorthCrest Asset Manangement LLC raised its position in Lululemon Athletica by 6.3% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,198 shares of the apparel retailer’s stock worth $458,000 after purchasing an additional 71 shares during the period. PKO Investment Management Joint Stock Co bought a new stake in Lululemon Athletica in the fourth quarter worth $1,912,000. Finally, Wealthedge Investment Advisors LLC bought a new position in shares of Lululemon Athletica during the fourth quarter valued at about $1,257,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

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.