Lululemon Athletica (NASDAQ:LULU) Receives Underperform Rating from Jefferies Financial Group

Jefferies Financial Group reissued their underperform rating on shares of Lululemon Athletica (NASDAQ:LULU) in a report released on Thursday morning, Benzinga reports. The brokerage currently has a $220.00 price target on the apparel retailer’s stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley decreased their price objective on Lululemon Athletica from $490.00 to $404.00 and set an overweight rating for the company in a research report on Wednesday, May 29th. JPMorgan Chase & Co. lowered their price objective on shares of Lululemon Athletica from $457.00 to $338.00 and set an overweight rating on the stock in a research report on Thursday. Piper Sandler cut their target price on shares of Lululemon Athletica from $525.00 to $470.00 and set an overweight rating for the company in a research report on Tuesday, April 9th. Wedbush boosted their price target on shares of Lululemon Athletica from $397.00 to $400.00 and gave the company an outperform rating in a report on Thursday, June 6th. Finally, UBS Group cut their price objective on Lululemon Athletica from $475.00 to $385.00 and set a neutral rating for the company in a report on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $422.87.

Lululemon Athletica Price Performance

Lululemon Athletica stock opened at $247.32 on Thursday. The company has a market cap of $30.92 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 1.35 and a beta of 1.26. Lululemon Athletica has a fifty-two week low of $245.59 and a fifty-two week high of $516.39. The firm’s 50 day simple moving average is $301.81 and its 200-day simple moving average is $379.73.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.16. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.28 EPS. On average, analysts expect that Lululemon Athletica will post 14.29 EPS for the current fiscal year.

Lululemon Athletica declared that its board has approved a share repurchase program on Wednesday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Lululemon Athletica

Several hedge funds have recently added to or reduced their stakes in the business. Valley National Advisers Inc. increased its position in Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares during the period. Tidemark LLC bought a new position in Lululemon Athletica during the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new position in Lululemon Athletica during the 4th quarter valued at $26,000. Morton Brown Family Wealth LLC acquired a new position in Lululemon Athletica during the 4th quarter valued at $31,000. Finally, Richardson Financial Services Inc. bought a new stake in Lululemon Athletica in the 4th quarter valued at $31,000. 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.