Lululemon shares tumble after disappointing sales forecast

Lululemon shares tumble after disappointing sales forecast”

"The magnitude of the trend reversal for Lululemon was surprising", wrote Evercore ISI analyst Omar Saad in a research note. The apparel retailer reported $1.00 earnings per share for the quarter, missing the Zacks' consensus estimate of $1.01 by $0.01. Analysts expected earnings of $1.01 per share on revenue of $783 million, according to FactSet analysts. As of 11:50 a.m. EDT, the stock was down 22.8%.

On the books, cash and cash equivalents totaled $734.85 million at the end of the quarter, versus $501.48 million in the same period past year. They now have a $64.00 price target on the apparel retailer's stock. There may be many price targets for a single security.

01/19/2017 - CLSA began new coverage on lululemon athletica inc. giving the company a " rating.

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Citi lowered its recommendation to "neutral" from "buy" and Susquehanna cut its rating to "neutral" from "positive". Lululemon Athletica inc. (NASDAQ:LULU) has declined 17.37% since August 23, 2016 and is downtrending. Jefferies Group LLC's price target would indicate a potential downside of 3.47% from the stock's current price. Pacific Invest Mgmt Company holds 0.04% of its portfolio in Lululemon Athletica inc. (NASDAQ:LULU) has "Sector Weight" rating given on Friday, February 3 by KeyBanc Capital Markets. (NASDAQ:LULU). Northwestern Mutual Wealth Mngmt holds 0% or 1,367 shares.

12/12/2016 - lululemon athletica inc. was upgraded to "market perform" by analysts at FBR Capital Markets. Lululemon Athletica inc. presently has an average rating of Buy and a consensus target price of $72.42. Finally, Royal Bank of Canada restated a buy rating and issued a $80.00 price target on shares of Lululemon Athletica a research note on Thursday, January 5th. The Cortina Asset Management Llc holds 500,977 shares with $42.46M value, down from 618,043 last quarter. Specifically, management now expects to lower its debt level to $20 billion in 2017 from $27 billion while significantly accelerating its share repurchase spending.

Konik noted that while he remains "very constructive" on the athletic space, Lululemon isn't the stock investors should own. Taking a further look from a different perspective, the stock has been recently recorded -0.570% off of the 52-week high of 113.240 and +24.669% apart from the 52-week low of 90.315.

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Lululemon Athletica a designer, distributor and retailer of technical athletic apparel.

Comparable store sales ("comps") rose 6% from previous year, which was in-line with what the company had guided for.

The sell-off by Lululemon comes after the after the yoga wear maker reported weaker than expected fourth quarter earnings and provided disappointing guidance for the current quarter. The Firm offers a line of apparel and accessories for women, men and female youth.

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