Lululemon Lowered to “Market Perform” at Cowen and Company (LULU)
Lululemon (NASDAQ:LULU) was downgraded by stock analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a report issued on Monday, TheFlyOnTheWall.com reports.
Shares of Lululemon (NASDAQ:LULU) traded down 16.61% on Monday, hitting $49.70. 24,045,350 shares of the company’s stock traded hands. Lululemon has a 1-year low of $57.01 and a 1-year high of $82.50. The stock has a 50-day moving average of $63.21 and a 200-day moving average of $68.50. The company has a market cap of $7.217 billion and a P/E ratio of 31.37. Lululemon also was the target of some unusual options trading on Monday. Investors acquired 42,348 put options on the stock. This represents an increase of approximately 324% compared to the average daily volume of 9,984 put options.
Lululemon (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, December 12th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.04. The company had revenue of $379.90 million for the quarter, compared to the consensus estimate of $376.20 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, analysts predict that Lululemon will post $1.95 earnings per share for the current fiscal year.
A number of other firms have also recently commented on LULU. Analysts at DA Davidson upgraded shares of Lululemon from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, January 7th. They now have a $73.00 price target on the stock, up previously from $67.00. Separately, analysts at Topeka Capital Markets initiated coverage on shares of Lululemon in a research note to investors on Thursday, December 19th. They set a “buy” rating and a $70.00 price target on the stock. Finally, analysts at UBS AG cut their price target on shares of Lululemon from $69.00 to $66.00 in a research note to investors on Friday, December 13th. They now have a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $72.65.
Manufactures, distributes and sells technical athletics and yoga apparel. The Company works in cooperation with various athletes to create designs specific to meet their needs.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.