lululemon athletica (LULU) Lifted to “Buy” at Deutsche Bank
Deutsche Bank upgraded shares of lululemon athletica (NASDAQ:LULU) from a hold rating to a buy rating in a report published on Thursday morning, Marketbeat Ratings reports. They currently have $58.00 target price on the apparel retailer’s stock.
A number of other research firms have also commented on LULU. Jefferies Group restated a hold rating on shares of lululemon athletica in a research report on Friday, December 8th. Zacks Investment Research upgraded shares of lululemon athletica from a hold rating to a buy rating and set a $81.00 price target on the stock in a research report on Monday, December 11th. KeyCorp restated a hold rating on shares of lululemon athletica in a research report on Thursday, December 7th. Morgan Stanley restated a hold rating and issued a $69.00 price target on shares of lululemon athletica in a research report on Thursday, December 7th. Finally, Royal Bank of Canada reiterated a buy rating and set a $77.00 target price on shares of lululemon athletica in a research report on Friday, December 8th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $70.15.
lululemon athletica (LULU) traded up $1.04 during trading hours on Thursday, reaching $75.82. 2,097,427 shares of the company’s stock were exchanged, compared to its average volume of 2,134,795. The firm has a market capitalization of $10,264.44, a price-to-earnings ratio of 33.40, a PEG ratio of 2.48 and a beta of 0.19. lululemon athletica has a 52-week low of $47.26 and a 52-week high of $76.01.
lululemon athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.04. The firm had revenue of $619.00 million for the quarter, compared to analyst estimates of $610.56 million. lululemon athletica had a net margin of 10.96% and a return on equity of 22.52%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. equities research analysts anticipate that lululemon athletica will post 2.48 earnings per share for the current year.
lululemon athletica declared that its board has authorized a stock buyback plan on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Institutional investors have recently added to or reduced their stakes in the company. Korea Investment CORP boosted its holdings in lululemon athletica by 12.5% during the third quarter. Korea Investment CORP now owns 410,800 shares of the apparel retailer’s stock worth $25,572,000 after purchasing an additional 45,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in lululemon athletica by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 314,404 shares of the apparel retailer’s stock worth $18,760,000 after purchasing an additional 29,880 shares during the last quarter. Crystal Rock Capital Management acquired a new position in lululemon athletica during the second quarter worth $2,418,000. ETRADE Capital Management LLC acquired a new position in lululemon athletica during the third quarter worth $252,000. Finally, APG Asset Management N.V. boosted its holdings in lululemon athletica by 6.2% during the third quarter. APG Asset Management N.V. now owns 177,188 shares of the apparel retailer’s stock worth $11,030,000 after purchasing an additional 10,300 shares during the last quarter. Institutional investors own 79.45% of the company’s stock.
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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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