J P Morgan Chase & Co reiterated their overweight rating on shares of lululemon athletica (NASDAQ:LULU) in a research report sent to investors on Thursday morning, The Fly reports. The brokerage currently has a $79.00 target price on the apparel retailer’s stock.

Several other research analysts have also recently issued reports on the company. Vetr raised lululemon athletica from a hold rating to a buy rating and set a $63.40 price objective on the stock in a research note on Thursday, August 10th. Robert W. Baird set a $70.00 price objective on lululemon athletica and gave the stock a buy rating in a research note on Tuesday, August 29th. Cowen set a $67.00 price objective on lululemon athletica and gave the stock a buy rating in a research note on Monday, August 21st. Bank of America raised lululemon athletica from an underperform rating to a buy rating and increased their price objective for the stock from $48.00 to $70.00 in a research note on Monday, August 21st. Finally, Zacks Investment Research raised lululemon athletica from a hold rating to a buy rating and set a $67.00 price objective on the stock in a research note on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $70.21.

lululemon athletica (NASDAQ:LULU) traded up $1.76 on Thursday, hitting $73.77. The stock had a trading volume of 3,176,100 shares, compared to its average volume of 2,644,017. The company has a market capitalization of $9,987.06, a PE ratio of 32.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.19. lululemon athletica has a 1 year low of $47.26 and a 1 year high of $74.03.

lululemon athletica (NASDAQ:LULU) last released its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. The firm had revenue of $619.00 million for the quarter, compared to analysts’ expectations of $610.56 million. lululemon athletica had a return on equity of 22.52% and a net margin of 10.96%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. research analysts expect that lululemon athletica will post 2.48 earnings per share for the current fiscal year.

lululemon athletica announced that its Board of Directors has approved 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 buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Several institutional investors and hedge funds have recently modified their holdings of LULU. Dimensional Fund Advisors LP lifted its holdings in shares of lululemon athletica by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 284,524 shares of the apparel retailer’s stock valued at $14,755,000 after purchasing an additional 6,448 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of lululemon athletica by 77.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 190,439 shares of the apparel retailer’s stock valued at $11,363,000 after purchasing an additional 83,300 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of lululemon athletica by 6.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 23,918 shares of the apparel retailer’s stock valued at $1,427,000 after purchasing an additional 1,449 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of lululemon athletica during the 2nd quarter valued at $291,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of lululemon athletica by 11.4% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 49,000 shares of the apparel retailer’s stock valued at $2,924,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 79.45% 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.

The Fly

Analyst Recommendations for lululemon athletica (NASDAQ:LULU)

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