Lululemon Stock Sinks 50% YTD, But Most Analysts Are Still Not Bullish

Lululemon Athletica (LULU) has been one of the market’s biggest laggards this year, with LULU stock down more than 50% year-to-date (YTD). The athletic apparel and footwear retailer is also trading 57% below its 52-week high of $225.98.

Several factors have contributed to the sharp decline, including weaker sales in key markets, tougher competition, and product launches that have failed to generate the expected momentum. Although the steep selloff has brought Lululemon’s valuation multiples down considerably, most Wall Street analysts still aren’t backing LULU stock. Their continued caution suggests that a meaningful rebound in shares may still be some distance away.