Lululemon Athletica (NASDAQ:LULU) Shares Gap Down – What’s Next?

Lululemon Athletica Inc. (NASDAQ:LULU) gapped down before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. BMO Capital Markets reduced their target price on shares of Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating on the stock in a report on Friday, March 28th. Stifel Nicolaus lowered their price target on shares of Lululemon Athletica from $438.00 to $424.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft raised their price objective on Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company lowered their target price on Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” 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 assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Trading Down 10.8 %

The company has a market capitalization of $30.70 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. The company’s 50 day moving average is $358.96 and its 200-day moving average is $340.07.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the company earned $5.29 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts predict that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Institutional Trading of Lululemon Athletica

Several institutional investors have recently bought and sold shares of the company. Beacon Capital Management LLC increased its position in shares of Lululemon Athletica by 6.9% during the fourth quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer’s stock valued at $142,000 after acquiring an additional 24 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Lululemon Athletica by 0.7% during the 4th quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer’s stock valued at $1,353,000 after purchasing an additional 25 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of Lululemon Athletica by 2.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock worth $389,000 after purchasing an additional 26 shares in the last quarter. Dnca Finance raised its stake in shares of Lululemon Athletica by 15.1% in the fourth quarter. Dnca Finance now owns 198 shares of the apparel retailer’s stock worth $76,000 after purchasing an additional 26 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Lululemon Athletica by 9.4% during the fourth quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer’s stock valued at $124,000 after purchasing an additional 28 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

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.