Lululemon Athletica Inc. (NASDAQ:LULU) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 14,507,389 shares, a decrease of 13.2% from the October 31st total of 16,705,361 shares. Based on an average trading volume of 1,648,172 shares, the days-to-cover ratio is currently 8.8 days. Currently, 15.0% of the shares of the stock are sold short.
A number of research analysts recently commented on the company. Morgan Stanley cut Lululemon Athletica from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $74.00 to $70.00 in a research note on Friday, September 2nd. Jefferies Group cut Lululemon Athletica from a “buy” rating to a “hold” rating and reduced their target price for the company from $80.00 to $76.00 in a research note on Sunday, September 4th. They noted that the move was a valuation call. Canaccord Genuity reduced their target price on Lululemon Athletica from $70.00 to $65.00 and set a “hold” rating on the stock in a research note on Monday, September 5th. Wedbush raised their price objective on Lululemon Athletica from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, September 2nd. Finally, FBR & Co reaffirmed an “underperform” rating and set a $40.00 price objective on shares of Lululemon Athletica in a research note on Friday, September 2nd. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $70.45.
Hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA raised its stake in 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 buying an additional 793 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its stake 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 buying an additional 765 shares during the period. Victory Capital Management Inc. raised its stake in shares of Lululemon Athletica by 131.7% in the second quarter. Victory Capital Management Inc. now owns 1,536 shares of the apparel retailer’s stock valued at $113,000 after buying an additional 873 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Lululemon Athletica during the second quarter valued at about $118,000. Finally, Advisor Group Inc. bought a new stake in shares of Lululemon Athletica during the second quarter valued at about $124,000. Institutional investors own 91.60% of the company’s stock.
Shares of Lululemon Athletica (NASDAQ:LULU) opened at 57.99 on Monday. The stock’s 50 day moving average is $56.98 and its 200 day moving average is $67.43. The stock has a market capitalization of $7.95 billion, a PE ratio of 29.75 and a beta of 0.46. Lululemon Athletica has a 12 month low of $44.62 and a 12 month high of $81.81.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, September 1st. The apparel retailer reported $0.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The company had revenue of $514.52 million for the quarter. Lululemon Athletica had a net margin of 12.28% and a return on equity of 23.73%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. Analysts anticipate that Lululemon Athletica will post $2.13 earnings per share for the current fiscal year.
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