Lululemon Athletica (LULU) is Downgraded by Morgan Stanley to Equal-Weight

Lululemon Athletica (LULU) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Sep 2, 2016.

Many Wall Street Analysts have commented on Lululemon Athletica. Shares were Reiterated by Canaccord Genuity on Sep 2, 2016 to “Hold” and Lowered the Price Target to $ 65 from a previous price target of $70 .Company shares were Reiterated by Telsey Advisory Group on Aug 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 92 from a previous price target of $82 .Company shares were Reiterated by Deutsche Bank on Jun 9, 2016 to “Hold”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .

On the company’s financial health, Lululemon Athletica reported $0.38 EPS for the quarter, based on the information available during the earnings call on Sep 1, 2016. Analyst had a consensus estimate of $0.38. The company had revenue of $514.52 million for the quarter, compared to analysts expectations of $515.78 million. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Lululemon Athletica opened for trading at $75.89 and hit $77.58 on the upside on Thursday, eventually ending the session at $76.66, with a gain of 0.20% or 0.15 points. The heightened volatility saw the trading volume jump to 55,00,087 shares. Company has a market cap of $9,750 M.

In a different news, on Apr 5, 2016, Rhoda M. Pitcher (director) sold 5,310 shares at $67.31 per share price. According to the SEC, on Sep 23, 2015, Tara Poseley (Chief Product Officer) purchased 4,000 shares at $53.51 per share price. On Apr 1, 2015, Thomas Stemberg (director) sold 5,310 shares at $65.11 per share price, according to the Form-4 filing with the securities and exchange commission.

lululemon athletica inc. is a designer and retailer of technical athletic apparel. The Company offers a line of apparel and accessories for women men and female youth. Its apparel assortment includes items such as pants shorts tops and jackets designed for healthy lifestyle activities and athletic pursuits such as yoga running general fitness and dance-inspired apparel for female youth. The Company conducts its business through two channels: corporate-owned stores and direct to consumer. The Company markets its athletic apparel under the lululemon athletica and ivivva athletica brand names. As of February 1 2015 the Company’s retail footprint included 211 stores in the United States 57 stores in Canada 26 stores in Australia five in New Zealand two in the United Kingdom and one in Singapore. The Company’s retail stores are located primarily on street locations in lifestyle centers and in malls.

Lululemon Athletica

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