lululemon athletica (NASDAQ:LULU) Reaches New 52-Week Low on Analyst Downgrade

lululemon athletica inc. (NASDAQ:LULU)’s stock price hit a new 52-week low on Wednesday after Piper Sandler lowered their price target on the stock from $270.00 to $200.00. Piper Sandler currently has a neutral rating on the stock. lululemon athletica traded as low as $213.88 and last traded at $214.04, with a volume of 2580345 shares trading hands. The stock had previously closed at $216.59.

Other analysts have also recently issued reports about the company. William Blair reiterated an “outperform” rating on shares of lululemon athletica in a research report on Thursday, April 3rd. BMO Capital Markets decreased their target price on lululemon athletica from $302.00 to $250.00 and set a “market perform” rating on the stock in a report on Friday, June 6th. Truist Financial decreased their target price on lululemon athletica from $297.00 to $290.00 and set a “buy” rating on the stock in a report on Friday, June 6th. UBS Group decreased their target price on lululemon athletica from $330.00 to $290.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Finally, Barclays decreased their target price on lululemon athletica from $276.00 to $270.00 and set an “equal weight” rating on the stock in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, lululemon athletica currently has an average rating of “Moderate Buy” and an average price target of $333.57.

Insider Activity

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $235.69, for a total value of $6,375,178.81. Following the completion of the sale, the chief executive officer directly owned 110,564 shares in the company, valued at $26,058,829.16. This represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On lululemon athletica

Several large investors have recently modified their holdings of LULU. Price T Rowe Associates Inc. MD grew its holdings in shares of lululemon athletica by 95.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock worth $1,854,160,000 after buying an additional 2,371,079 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of lululemon athletica by 37,062.1% during the first quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer’s stock worth $159,364,000 after buying an additional 561,491 shares in the last quarter. Capital World Investors grew its holdings in shares of lululemon athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock worth $827,338,000 after buying an additional 556,406 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of lululemon athletica by 151.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 770,336 shares of the apparel retailer’s stock worth $218,052,000 after buying an additional 464,186 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of lululemon athletica during the first quarter worth about $123,894,000. 85.20% of the stock is currently owned by institutional investors.

lululemon athletica Stock Down 3.5%

The firm has a market capitalization of $24.75 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.82 and a beta of 1.17. The stock has a fifty day moving average of $253.41 and a 200-day moving average of $302.56.

lululemon athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.60. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. lululemon athletica’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $2.54 earnings per share. Sell-side analysts predict that lululemon athletica inc. will post 14.36 EPS for the current fiscal year.

lululemon athletica Company Profile

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.