Lululemon Athletica (NASDAQ:LULU) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Tuesday, The Fly reports.
LULU has been the subject of several other research reports. Zacks Investment Research cut shares of Lululemon Athletica from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. B. Riley restated a “neutral” rating on shares of Lululemon Athletica in a report on Wednesday, November 1st. Canaccord Genuity restated a “sell” rating and set a $43.00 target price on shares of Lululemon Athletica in a report on Friday, September 22nd. Susquehanna Bancshares restated a “buy” rating and set a $85.00 target price (up previously from $71.00) on shares of Lululemon Athletica in a report on Thursday, December 7th. Finally, KeyCorp restated a “hold” rating on shares of Lululemon Athletica in a report on Thursday, December 7th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $70.51.
Shares of Lululemon Athletica (NASDAQ LULU) opened at $78.59 on Tuesday. Lululemon Athletica has a 12 month low of $47.26 and a 12 month high of $80.10. The company has a market cap of $10,639.43, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 2.48 and a beta of 0.19.
Lululemon Athletica declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Institutional investors and hedge funds have recently modified their holdings of the company. Glenmede Trust Co. NA raised its position in shares of Lululemon Athletica by 136.7% in the second quarter. Glenmede Trust Co. NA now owns 1,373 shares of the apparel retailer’s stock valued at $100,000 after purchasing an additional 793 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in shares of Lululemon Athletica by 128.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,360 shares of the apparel retailer’s stock valued at $100,000 after purchasing an additional 765 shares during the period. Van ECK Associates Corp raised its position in shares of Lululemon Athletica by 2.9% in the fourth quarter. Van ECK Associates Corp now owns 1,609 shares of the apparel retailer’s stock valued at $105,000 after purchasing an additional 46 shares during the period. IHT Wealth Management LLC raised its position in shares of Lululemon Athletica by 591.0% in the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after purchasing an additional 1,182 shares during the period. Finally, Exane Derivatives bought a new position in shares of Lululemon Athletica in the second quarter valued at about $106,000. 79.31% of the stock is currently owned by institutional investors.
About Lululemon Athletica
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
