Lululemon Athletica inc. (NASDAQ:LULU) shares were down 5.3% on Thursday . The stock traded as low as $76.63 and last traded at $76.67. Approximately 2,618,557 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 1,588,106 shares. The stock had previously closed at $80.99.

Several research analysts have weighed in on LULU shares. Needham & Company LLC set a $69.00 target price on Lululemon Athletica and gave the stock a “buy” rating in a research report on Monday, October 16th. Citigroup upped their target price on Lululemon Athletica to $78.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Wells Fargo & Co set a $79.00 target price on Lululemon Athletica and gave the stock a “hold” rating in a research report on Thursday, January 11th. SunTrust Banks reissued a “buy” rating and set a $95.00 price objective on shares of Lululemon Athletica in a report on Friday, February 2nd. Finally, Royal Bank of Canada reissued a “buy” rating and set a $77.00 price objective on shares of Lululemon Athletica in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $73.95.

The company has a market cap of $10,380.00, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 2.02 and a beta of 0.26.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.04. Lululemon Athletica had a return on equity of 22.52% and a net margin of 10.96%. The firm had revenue of $619.00 million during the quarter, compared to the consensus estimate of $610.56 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. research analysts forecast that Lululemon Athletica inc. will post 2.53 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

A number of large investors have recently made changes to their positions in the stock. IHT Wealth Management LLC lifted its position in shares of Lululemon Athletica by 591.0% in the 2nd quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock worth $105,000 after acquiring an additional 1,182 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Lululemon Athletica by 702.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock worth $120,000 after acquiring an additional 1,335 shares during the period. Zions Bancorporation lifted its position in shares of Lululemon Athletica by 183.2% in the 3rd quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock worth $130,000 after acquiring an additional 1,356 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in shares of Lululemon Athletica in the 3rd quarter worth approximately $156,000. Finally, Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $171,000. Hedge funds and other institutional investors own 79.70% of the company’s stock.

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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.

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