Lululemon Athletica (LULU) Given a $75.00 Price Target at Canaccord Genuity
Lululemon Athletica (NASDAQ:LULU) has been assigned a $75.00 target price by stock analysts at Canaccord Genuity in a research report issued to clients and investors on Sunday. The brokerage presently has a “hold” rating on the apparel retailer’s stock. Canaccord Genuity’s price objective would indicate a potential downside of 5.58% from the stock’s previous close.
A number of other equities analysts also recently weighed in on LULU. Cowen reissued a “buy” rating and set a $68.00 price target on shares of Lululemon Athletica in a research report on Friday, November 3rd. Citigroup raised Lululemon Athletica from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $61.50 to $60.09 in a research report on Friday, October 20th. Zacks Investment Research downgraded Lululemon Athletica from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. KeyCorp reissued a “hold” rating on shares of Lululemon Athletica in a research report on Friday, October 27th. Finally, Deutsche Bank raised Lululemon Athletica from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $72.08.
Shares of Lululemon Athletica (NASDAQ:LULU) traded down $0.42 during trading on Friday, hitting $79.43. The stock had a trading volume of 1,593,000 shares, compared to its average volume of 1,870,650. Lululemon Athletica has a 12 month low of $47.26 and a 12 month high of $80.46. The company has a market capitalization of $10,700.00, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 2.51 and a beta of 0.19.
Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $619.00 million for the quarter, compared to analyst estimates of $610.56 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. Lululemon Athletica’s revenue was up 13.7% on a year-over-year basis. equities analysts forecast that Lululemon Athletica will post 2.48 earnings per share for the current year.
Lululemon Athletica announced that its board has authorized a stock repurchase program on Wednesday, December 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC lifted its stake in Lululemon Athletica by 591.0% during the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock worth $105,000 after purchasing an additional 1,182 shares during the last quarter. Zions Bancorporation lifted its stake in Lululemon Athletica by 183.2% during the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock worth $130,000 after purchasing an additional 1,356 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Lululemon Athletica during the third quarter worth $156,000. Oakbrook Investments LLC bought a new stake in Lululemon Athletica during the third quarter worth $202,000. Finally, Mackenzie Financial Corp bought a new stake in Lululemon Athletica during the third quarter worth $232,000. Hedge funds and other institutional investors own 79.31% of the company’s stock.
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Lululemon Athletica Company Profile
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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