Lululemon Athletica (LULU) Shares Gap Up Following Analyst Upgrade
Lululemon Athletica inc. (NASDAQ:LULU)’s share price gapped up prior to trading on Tuesday after Argus raised their price target on the stock to $180.00. The stock had previously closed at $155.78, but opened at $154.54. Argus currently has a buy rating on the stock. Lululemon Athletica shares last traded at $158.85, with a volume of 146718 shares changing hands.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research report on Wednesday, May 30th. Robert W. Baird boosted their target price on shares of Lululemon Athletica from $106.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, May 30th. SunTrust Banks boosted their target price on shares of Lululemon Athletica from $47.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, May 21st. They noted that the move was a valuation call. ValuEngine upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Finally, MKM Partners boosted their target price on shares of Lululemon Athletica from $120.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, June 1st. Sixteen equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $140.06.
In other Lululemon Athletica news, major shareholder International Corp/Ma Advent sold 10,000,000 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $121.00, for a total transaction of $1,210,000,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David M. Mussafer sold 17,935 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $121.00, for a total transaction of $2,170,135.00. Following the sale, the director now directly owns 18,202 shares in the company, valued at $2,202,442. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.
The firm has a market capitalization of $21.02 billion, a price-to-earnings ratio of 61.25, a P/E/G ratio of 2.69 and a beta of 0.09.
Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 30th. The apparel retailer reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.22. Lululemon Athletica had a net margin of 11.97% and a return on equity of 28.67%. The firm had revenue of $723.50 million for the quarter, compared to analyst estimates of $669.14 million. During the same period in the previous year, the firm posted $0.39 EPS. analysts forecast that Lululemon Athletica inc. will post 3.55 EPS for the current fiscal year.
About Lululemon Athletica (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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