Lululemon Athletica (LULU) Price Target Increased to $165.00 by Analysts at B. Riley
Lululemon Athletica (NASDAQ:LULU) had its target price raised by B. Riley from $160.00 to $165.00 in a report released on Friday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the apparel retailer’s stock. B. Riley also issued estimates for Lululemon Athletica’s Q2 2020 earnings at $0.88 EPS, Q3 2020 earnings at $0.92 EPS, Q4 2020 earnings at $2.10 EPS, FY2020 earnings at $4.59 EPS and FY2021 earnings at $5.42 EPS.
Several other brokerages have also recently weighed in on LULU. Wells Fargo & Co lifted their price objective on Lululemon Athletica from $190.00 to $200.00 and gave the company an outperform rating in a report on Thursday, April 25th. Credit Suisse Group lifted their price objective on Lululemon Athletica from $190.00 to $195.00 and gave the company an outperform rating in a report on Thursday, April 25th. Macquarie raised Lululemon Athletica from an underperform rating to a neutral rating in a report on Tuesday, May 7th. Morgan Stanley boosted their price target on Lululemon Athletica from $150.00 to $160.00 and gave the stock an equal weight rating in a report on Thursday, April 25th. Finally, UBS Group boosted their price target on Lululemon Athletica from $176.00 to $182.00 and gave the stock a neutral rating in a report on Thursday, April 25th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Lululemon Athletica presently has an average rating of Buy and a consensus price target of $175.23.
Shares of NASDAQ LULU opened at $174.15 on Friday. The firm has a market capitalization of $22.80 billion, a price-to-earnings ratio of 45.35, a P/E/G ratio of 2.02 and a beta of 0.53. Lululemon Athletica has a fifty-two week low of $102.02 and a fifty-two week high of $179.49.
Lululemon Athletica announced that its Board of Directors has authorized a share repurchase program on Wednesday, March 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the apparel retailer to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP Celeste Burgoyne sold 19,199 shares of the business’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $166.54, for a total transaction of $3,197,401.46. Following the sale, the executive vice president now owns 18,019 shares in the company, valued at approximately $3,000,884.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle Sun Choe sold 6,170 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $170.92, for a total value of $1,054,576.40. Following the sale, the insider now owns 11,294 shares in the company, valued at approximately $1,930,370.48. The disclosure for this sale can be found here. Insiders have sold a total of 519,344 shares of company stock worth $79,873,942 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. bought a new stake in Lululemon Athletica during the 1st quarter worth $33,000. AdvisorNet Financial Inc grew its position in Lululemon Athletica by 70.8% during the 4th quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 85 shares during the last quarter. Semmax Financial Advisors Inc. bought a new stake in Lululemon Athletica during the 4th quarter worth $25,000. PRW Wealth Management LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $34,000. Finally, Ropes Wealth Advisors LLC bought a new stake in shares of Lululemon Athletica in the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 80.26% of the company’s stock.
Lululemon Athletica Company Profile
lululemon athletica inc., 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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