Lululemon Athletica (LULU) Price Target Increased to $84.00 by Analysts at Needham & Company LLC
Lululemon Athletica (NASDAQ:LULU) had its target price boosted by Needham & Company LLC from $79.00 to $84.00 in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a buy rating on the apparel retailer’s stock.
LULU has been the topic of several other reports. BMO Capital Markets reaffirmed a hold rating and set a $55.00 price target on shares of Lululemon Athletica in a research report on Thursday, November 2nd. Zacks Investment Research downgraded Lululemon Athletica from a buy rating to a hold rating in a research report on Tuesday, November 14th. Robert W. Baird reaffirmed a buy rating and set a $72.00 price target on shares of Lululemon Athletica in a research report on Wednesday, October 4th. Canaccord Genuity set a $43.00 price target on Lululemon Athletica and gave the stock a sell rating in a research report on Tuesday, December 5th. Finally, BidaskClub raised Lululemon Athletica from a buy rating to a strong-buy rating in a research report on Wednesday, December 27th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $72.95.
Lululemon Athletica (NASDAQ LULU) traded up $0.13 during midday trading on Tuesday, hitting $78.99. The company had a trading volume of 913,000 shares, compared to its average volume of 1,757,800. Lululemon Athletica has a 52-week low of $47.26 and a 52-week high of $81.92. The firm has a market cap of $10,670.00, a P/E ratio of 39.30, 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, beating 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 firm had revenue of $619.00 million for the quarter, compared to the consensus estimate of $610.56 million. During the same period in the prior year, the firm earned $0.50 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. equities research analysts anticipate that Lululemon Athletica will post 2.48 EPS for the current year.
Lululemon Athletica declared that its board has authorized a share buyback program on Wednesday, December 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Winslow Asset Management Inc. lifted its stake in Lululemon Athletica by 2.3% in the 4th quarter. Winslow Asset Management Inc. now owns 112,202 shares of the apparel retailer’s stock worth $8,818,000 after purchasing an additional 2,570 shares in the last quarter. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth approximately $489,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Lululemon Athletica during the 3rd quarter worth approximately $1,197,000. California Public Employees Retirement System increased its holdings in shares of Lululemon Athletica by 0.8% during the 3rd quarter. California Public Employees Retirement System now owns 216,882 shares of the apparel retailer’s stock worth $13,501,000 after buying an additional 1,782 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Lululemon Athletica by 152.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 19,331 shares of the apparel retailer’s stock worth $1,203,000 after buying an additional 11,676 shares during the last quarter. 79.31% of the stock is currently owned by institutional investors and hedge funds.
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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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