Lululemon Athletica (LULU) Lifted to “Buy” at Argus
Argus upgraded shares of Lululemon Athletica (NASDAQ:LULU) from a hold rating to a buy rating in a research note issued to investors on Thursday, Marketbeat.com reports. Argus currently has $150.00 price target on the apparel retailer’s stock.
LULU has been the subject of several other research reports. BidaskClub raised Lululemon Athletica from a buy rating to a strong-buy rating in a research note on Friday, April 27th. Morgan Stanley raised their target price on Lululemon Athletica from $85.00 to $108.00 and gave the stock an equal weight rating in a research note on Monday, June 4th. ValuEngine cut Lululemon Athletica from a buy rating to a hold rating in a research note on Saturday, July 28th. Bank of America raised their target price on Lululemon Athletica from $121.00 to $140.00 and gave the stock a buy rating in a research note on Friday, July 6th. Finally, Stifel Nicolaus raised their target price on Lululemon Athletica from $111.00 to $113.00 and gave the stock a hold rating in a research note on Friday, June 8th. Eighteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Lululemon Athletica has a consensus rating of Buy and a consensus price target of $109.17.
LULU stock opened at $130.19 on Thursday. The firm has a market cap of $17.71 billion, a price-to-earnings ratio of 50.27, a price-to-earnings-growth ratio of 2.58 and a beta of -0.03. Lululemon Athletica has a 52-week low of $56.56 and a 52-week high of $131.88.
In related news, major shareholder International Corp/Ma Advent sold 10,000,000 shares of Lululemon Athletica stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $121.00, for a total value of $1,210,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David M. Mussafer sold 17,935 shares of Lululemon Athletica stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $121.00, for a total value of $2,170,135.00. Following the completion of the transaction, the director now owns 18,202 shares of the company’s stock, valued at $2,202,442. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Hartford Investment Management Co. purchased a new position in Lululemon Athletica in the second quarter valued at $404,000. Pendal Group Ltd purchased a new stake in Lululemon Athletica during the 1st quarter worth about $3,804,000. Smithfield Trust Co. lifted its holdings in Lululemon Athletica by 247.8% during the 2nd quarter. Smithfield Trust Co. now owns 1,287 shares of the apparel retailer’s stock worth $160,000 after buying an additional 917 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in Lululemon Athletica by 64.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 4,832 shares of the apparel retailer’s stock worth $603,000 after buying an additional 1,897 shares during the last quarter. Finally, Cavalier Investments LLC purchased a new stake in Lululemon Athletica during the 2nd quarter worth about $436,000. Hedge funds and other institutional investors own 82.31% of the company’s stock.
About Lululemon Athletica
lululemon athletica inc., an athletic apparel company, together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.
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