Lululemon Athletica (LULU) Shares Gap Down to $136.00

Lululemon Athletica inc. (NASDAQ:LULU) shares gapped down prior to trading on Thursday . The stock had previously closed at $140.97, but opened at $136.00. Lululemon Athletica shares last traded at $131.61, with a volume of 3398609 shares trading hands.

LULU has been the subject of a number of analyst reports. Wells Fargo & Co upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and raised their price target for the company from $144.00 to $200.00 in a research note on Monday, September 17th. Canaccord Genuity upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and raised their price target for the company from $152.00 to $160.00 in a research note on Wednesday, October 24th. Oppenheimer raised their price objective on Lululemon Athletica from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, September 27th. Wedbush raised Lululemon Athletica from a “neutral” rating to an “outperform” rating and set a $176.00 price objective for the company in a research report on Monday, October 15th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $155.00 price objective (up from $141.00) on shares of Lululemon Athletica in a research report on Tuesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Lululemon Athletica presently has an average rating of “Buy” and a consensus price target of $159.53.

The firm has a market capitalization of $18.01 billion, a price-to-earnings ratio of 51.03, a P/E/G ratio of 1.91 and a beta of 0.53.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, December 6th. The apparel retailer reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.06. The business had revenue of $747.70 million during the quarter, compared to analysts’ expectations of $736.10 million. Lululemon Athletica had a return on equity of 30.28% and a net margin of 12.63%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the firm posted $0.56 EPS. As a group, analysts predict that Lululemon Athletica inc. will post 3.7 EPS for the current fiscal year.

In related news, major shareholder Dennis J. Wilson sold 847,000 shares of Lululemon Athletica stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $136.53, for a total transaction of $115,640,910.00. Following the completion of the sale, the insider now directly owns 3,852 shares of the company’s stock, valued at approximately $525,913.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its stake in Lululemon Athletica by 1.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 35,662 shares of the apparel retailer’s stock worth $5,795,000 after acquiring an additional 357 shares during the period. Logan Capital Management Inc. increased its stake in Lululemon Athletica by 1.9% during the 3rd quarter. Logan Capital Management Inc. now owns 21,459 shares of the apparel retailer’s stock worth $3,487,000 after acquiring an additional 408 shares during the period. First Hawaiian Bank increased its stake in Lululemon Athletica by 10.3% during the 4th quarter. First Hawaiian Bank now owns 4,390 shares of the apparel retailer’s stock worth $534,000 after acquiring an additional 410 shares during the period. Northwest Wealth Management LLC increased its stake in Lululemon Athletica by 50.0% during the 3rd quarter. Northwest Wealth Management LLC now owns 1,500 shares of the apparel retailer’s stock worth $244,000 after acquiring an additional 500 shares during the period. Finally, Zacks Investment Management increased its stake in Lululemon Athletica by 4.4% during the 2nd quarter. Zacks Investment Management now owns 13,803 shares of the apparel retailer’s stock worth $1,723,000 after acquiring an additional 581 shares during the period. 78.65% of the stock is owned by institutional investors and hedge funds.

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About Lululemon Athletica (NASDAQ:LULU)

lululemon athletica inc., an athletic apparel company, together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.

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