Lululemon Athletica (LULU) Sets New 52-Week High on Analyst Upgrade
Lululemon Athletica inc. (NASDAQ:LULU) shares hit a new 52-week high on Thursday after Oppenheimer raised their price target on the stock from $180.00 to $190.00. Oppenheimer currently has an outperform rating on the stock. Lululemon Athletica traded as high as $161.50 and last traded at $160.10, with a volume of 42202 shares changing hands. The stock had previously closed at $159.99.
A number of other research analysts also recently weighed in on LULU. Citigroup raised their price objective on Lululemon Athletica from $117.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, June 26th. CIBC reissued an “outperform” rating and issued a $190.00 price objective (up from $180.00) on shares of Lululemon Athletica in a research note on Thursday. MKM Partners raised their price objective on Lululemon Athletica from $120.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, June 1st. Guggenheim reissued a “buy” rating and issued a $125.00 price objective (up from $90.00) on shares of Lululemon Athletica in a research note on Thursday, May 31st. Finally, Stifel Nicolaus raised their price objective on Lululemon Athletica from $111.00 to $113.00 and gave the company a “hold” rating in a research note on Friday, June 8th. Fifteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $146.97.
Several large investors have recently made changes to their positions in the company. United Services Automobile Association grew its holdings in shares of Lululemon Athletica by 32.5% during the 2nd quarter. United Services Automobile Association now owns 26,744 shares of the apparel retailer’s stock worth $3,339,000 after purchasing an additional 6,553 shares in the last quarter. Royal London Asset Management Ltd. acquired a new stake in shares of Lululemon Athletica during the 2nd quarter worth approximately $5,312,000. Northern Trust Corp grew its holdings in shares of Lululemon Athletica by 13.1% during the 2nd quarter. Northern Trust Corp now owns 750,318 shares of the apparel retailer’s stock worth $93,677,000 after purchasing an additional 86,653 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Lululemon Athletica during the 2nd quarter worth approximately $1,417,000. Finally, WINTON GROUP Ltd grew its holdings in shares of Lululemon Athletica by 61.7% during the 2nd quarter. WINTON GROUP Ltd now owns 4,625 shares of the apparel retailer’s stock worth $577,000 after purchasing an additional 1,765 shares in the last quarter. 79.53% of the stock is currently owned by institutional investors.
Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 30th. The apparel retailer reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.22. Lululemon Athletica had a return on equity of 28.67% and a net margin of 11.97%. The company had revenue of $723.50 million for the quarter, compared to analyst estimates of $669.14 million. During the same quarter last year, the firm earned $0.39 EPS. equities analysts expect that Lululemon Athletica inc. will post 3.57 EPS for the current year.
Lululemon Athletica Company Profile (NASDAQ:LULU)
lululemon athletica inc., an athletic apparel company, 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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