Lululemon Athletica (LULU) PT Raised to $92.00
Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by equities research analysts at MKM Partners from $89.00 to $92.00 in a research note issued on Wednesday. The firm presently has a “buy” rating on the apparel retailer’s stock. MKM Partners’ target price suggests a potential upside of 16.37% from the company’s previous close.
LULU has been the subject of a number of other research 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 lowered Lululemon Athletica from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Robert W. Baird reissued a “buy” rating and issued a $72.00 target price on shares of Lululemon Athletica in a research report on Wednesday, October 4th. Canaccord Genuity set a $43.00 target price on Lululemon Athletica and gave the stock a “sell” rating in a research report on Tuesday, December 5th. Finally, Needham & Company LLC set a $69.00 target price on Lululemon Athletica and gave the stock a “buy” rating in a research report on Monday, October 16th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $72.71.
Lululemon Athletica (LULU) traded down $0.45 on Wednesday, reaching $79.06. The company’s stock had a trading volume of 126,877 shares, compared to its average volume of 2,001,317. The company has a market cap of $10,690.00, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 2.51 and a beta of 0.19. Lululemon Athletica has a fifty-two week low of $47.26 and a fifty-two week high of $81.92.
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 analysts’ consensus estimates of $0.52 by $0.04. The business had revenue of $619.00 million during the quarter, compared to analyst estimates of $610.56 million. Lululemon Athletica had a return on equity of 22.52% and a net margin of 10.96%. Lululemon Athletica’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 EPS. research analysts expect that Lululemon Athletica will post 2.48 EPS for the current year.
Lululemon Athletica declared that its board has initiated a share buyback program on Wednesday, December 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC bought a new position in Lululemon Athletica in the 3rd quarter worth $1,197,000. California Public Employees Retirement System raised its holdings in Lululemon Athletica by 0.8% in the 3rd quarter. California Public Employees Retirement System now owns 216,882 shares of the apparel retailer’s stock worth $13,501,000 after purchasing an additional 1,782 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Lululemon Athletica by 152.5% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 19,331 shares of the apparel retailer’s stock worth $1,203,000 after purchasing an additional 11,676 shares during the period. Zions Bancorporation raised its holdings in Lululemon Athletica by 183.2% in the 3rd quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock worth $130,000 after purchasing an additional 1,356 shares during the period. Finally, Grandeur Peak Global Advisors LLC raised its holdings in Lululemon Athletica by 30.3% in the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 103,775 shares of the apparel retailer’s stock worth $6,460,000 after purchasing an additional 24,150 shares during the period. 79.31% of the stock is currently owned by institutional investors.
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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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