B. Riley Reiterates Hold Rating for Lululemon Athletica (LULU)
Lululemon Athletica (NASDAQ:LULU)‘s stock had its “hold” rating restated by investment analysts at B. Riley in a research report issued on Tuesday. They currently have a $70.00 price target on the apparel retailer’s stock. B. Riley’s target price would indicate a potential downside of 11.44% from the company’s current price.
A number of other brokerages have also weighed in on LULU. Deutsche Bank increased their target price on Lululemon Athletica from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Barclays reiterated a “buy” rating and set a $95.00 target price on shares of Lululemon Athletica in a research note on Monday. BidaskClub upgraded Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. Cowen set a $78.00 target price on Lululemon Athletica and gave the stock a “buy” rating in a research note on Monday. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Lululemon Athletica in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. Lululemon Athletica presently has an average rating of “Buy” and a consensus price target of $72.63.
Shares of Lululemon Athletica (NASDAQ:LULU) traded down $0.39 during midday trading on Tuesday, hitting $79.04. The stock had a trading volume of 3,042,800 shares, compared to its average volume of 2,105,080. The company has a market capitalization of $10,750.00, a price-to-earnings ratio of 39.32, a P/E/G ratio of 2.51 and a beta of 0.19. Lululemon Athletica has a one year low of $47.26 and a one year high of $81.92.
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, topping the Zacks’ consensus estimate of $0.52 by $0.04. The company had revenue of $619.00 million for the quarter, compared to analyst estimates of $610.56 million. Lululemon Athletica had a return on equity of 22.52% and a net margin of 10.96%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. equities analysts anticipate that Lululemon Athletica will post 2.48 EPS for the current year.
Lululemon Athletica announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Several hedge funds have recently modified their holdings of LULU. IHT Wealth Management LLC boosted its holdings 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 valued at $105,000 after purchasing an additional 1,182 shares in the last quarter. Zions Bancorporation boosted its holdings 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 valued at $130,000 after purchasing an additional 1,356 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Lululemon Athletica in the 3rd quarter valued at $156,000. Oakbrook Investments LLC acquired a new stake in shares of Lululemon Athletica during the 3rd quarter valued at $202,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Lululemon Athletica during the 3rd quarter valued at $232,000. 79.31% of the stock is currently owned by hedge funds and other institutional investors.
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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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