Lululemon Athletica (NASDAQ:LULU) Shares Gap Down – Here’s What Happened

Lululemon Athletica Inc. (NASDAQ:LULU) gapped down prior to trading 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.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Guggenheim lifted their price objective on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Telsey Advisory Group cut their price target 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. Morgan Stanley decreased their price target on Lululemon Athletica from $411.00 to $373.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Citigroup set a $330.00 price objective on Lululemon Athletica and gave the company a “negative” rating in a research note on Friday, March 28th. Finally, BMO Capital Markets decreased their target price on Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating for the company in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Stock Down 10.8 %

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 $30.70 billion, a PE ratio of 18.20, a P/E/G ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.85 by $0.29. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates 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 was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $5.29 EPS. Equities analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

Large investors have recently modified their holdings of the stock. Townsquare Capital LLC raised its stake in shares of Lululemon Athletica by 47.9% in the third quarter. Townsquare Capital LLC now owns 2,205 shares of the apparel retailer’s stock valued at $598,000 after buying an additional 714 shares during the period. Glenmede Trust Co. NA increased its holdings in shares of Lululemon Athletica by 18.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,614 shares of the apparel retailer’s stock worth $438,000 after buying an additional 256 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Lululemon Athletica by 18.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,179 shares of the apparel retailer’s stock worth $1,405,000 after acquiring an additional 800 shares during the last quarter. Benjamin Edwards Inc. grew its position in Lululemon Athletica by 4,786.3% in the third quarter. Benjamin Edwards Inc. now owns 4,642 shares of the apparel retailer’s stock worth $1,260,000 after acquiring an additional 4,547 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in Lululemon Athletica by 479.0% in the third quarter. HighTower Advisors LLC now owns 48,908 shares of the apparel retailer’s stock valued at $13,337,000 after acquiring an additional 61,812 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

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.