lululemon athletica (LULU) PT Raised to $75.00
lululemon athletica (NASDAQ:LULU) had its price target boosted by Oppenheimer from $68.00 to $75.00 in a research report sent to investors on Thursday. They currently have an outperform rating on the apparel retailer’s stock. Oppenheimer also issued estimates for lululemon athletica’s Q4 2018 earnings at $1.22 EPS, FY2018 earnings at $2.48 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $1.41 EPS and FY2019 earnings at $2.80 EPS.
Several other research analysts also recently weighed in on the stock. Canaccord Genuity set a $41.00 price objective on shares of lululemon athletica and gave the stock a sell rating in a report on Tuesday, August 29th. Vetr upgraded shares of lululemon athletica from a buy rating to a strong-buy rating and set a $66.00 price objective on the stock in a report on Wednesday, August 30th. Cowen restated a buy rating and set a $68.00 price objective on shares of lululemon athletica in a report on Friday, November 3rd. Nomura restated a buy rating and set a $67.00 price objective (up previously from $65.00) on shares of lululemon athletica in a report on Friday, September 1st. Finally, Citigroup upgraded shares of lululemon athletica from a neutral rating to a buy rating and lowered their price objective for the stock from $61.50 to $60.09 in a report on Friday, October 20th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $70.21.
lululemon athletica (LULU) traded up $1.76 during trading on Thursday, hitting $73.77. 3,176,100 shares of the company were exchanged, compared to its average volume of 2,644,017. lululemon athletica has a 52 week low of $47.26 and a 52 week high of $74.03. The firm has a market cap of $9,987.06, a P/E ratio of 32.50, a PEG ratio of 2.68 and a beta of 0.19.
lululemon athletica (NASDAQ:LULU) last released its quarterly earnings data on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. lululemon athletica had a net margin of 10.96% and a return on equity of 22.52%. The firm had revenue of $619.00 million for the quarter, compared to the consensus estimate of $610.56 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. analysts predict that lululemon athletica will post 2.48 EPS for the current year.
lululemon athletica announced that its board has approved a stock buyback plan on Wednesday, December 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LULU. Janus Henderson Group PLC lifted its holdings in lululemon athletica by 16,053.2% during the second quarter. Janus Henderson Group PLC now owns 2,614,550 shares of the apparel retailer’s stock valued at $156,010,000 after purchasing an additional 2,598,364 shares during the last quarter. Eaton Vance Management purchased a new stake in lululemon athletica during the second quarter valued at about $126,967,000. Lazard Asset Management LLC purchased a new stake in lululemon athletica during the second quarter valued at about $94,181,000. HS Management Partners LLC lifted its holdings in lululemon athletica by 36.4% during the second quarter. HS Management Partners LLC now owns 2,775,486 shares of the apparel retailer’s stock valued at $165,613,000 after purchasing an additional 741,200 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in lululemon athletica by 145.9% during the second quarter. TIAA CREF Investment Management LLC now owns 1,153,948 shares of the apparel retailer’s stock valued at $68,856,000 after purchasing an additional 684,667 shares during the last quarter. 79.45% of the stock is currently owned by institutional investors and hedge funds.
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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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