Wells Fargo & Company Reiterates “Market Perform” Rating for lululemon athletica inc. (LULU)
lululemon athletica inc. (NASDAQ:LULU)‘s stock had its “market perform” rating reissued by research analysts at Wells Fargo & Company in a report issued on Friday. They currently have a $60.00 price objective on the apparel retailer’s stock, up from their previous price objective of $54.00. Wells Fargo & Company’s price target would indicate a potential upside of 4.26% from the company’s previous close.
A number of other research analysts have also recently issued reports on LULU. Vetr cut lululemon athletica inc. from a “buy” rating to a “hold” rating and set a $54.75 target price for the company. in a research note on Wednesday, May 10th. Berenberg Bank started coverage on lululemon athletica inc. in a research note on Tuesday, May 16th. They issued a “hold” rating and a $54.00 target price for the company. Credit Suisse Group reissued a “hold” rating and issued a $56.00 target price on shares of lululemon athletica inc. in a research note on Wednesday, May 17th. Zacks Investment Research cut lululemon athletica inc. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Finally, Canaccord Genuity reissued a “sell” rating and issued a $41.00 target price on shares of lululemon athletica inc. in a research note on Tuesday, May 23rd. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $66.00.
Shares of lululemon athletica inc. (LULU) traded up 7.68% during midday trading on Friday, reaching $61.97. The company’s stock had a trading volume of 6,454,907 shares. The stock has a 50-day moving average of $60.41 and a 200 day moving average of $57.53. lululemon athletica inc. has a 12 month low of $47.26 and a 12 month high of $72.70. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 29.36 and a beta of 0.25. lululemon athletica inc. also was the target of some unusual options trading on Tuesday. Stock traders bought 13,238 call options on the company. This represents an increase of approximately 195% compared to the average daily volume of 4,485 call options.
lululemon athletica inc. (NASDAQ:LULU) last posted its earnings results on Thursday, August 31st. The apparel retailer reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. lululemon athletica inc. had a return on equity of 23.54% and a net margin of 12.21%. The firm had revenue of $581.10 million during the quarter, compared to analysts’ expectations of $567.40 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. On average, analysts predict that lululemon athletica inc. will post $2.35 earnings per share for the current fiscal year.
In other lululemon athletica inc. news, Director Glenn Murphy acquired 97,728 shares of the stock in a transaction dated Monday, June 26th. The stock was purchased at an average cost of $55.50 per share, with a total value of $5,423,904.00. Following the transaction, the director now owns 100,344 shares in the company, valued at approximately $5,569,092. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. IHT Wealth Management LLC raised its position in lululemon athletica inc. by 591.0% in the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after buying an additional 1,182 shares during the period. Exane Derivatives acquired a new position in lululemon athletica inc. during the second quarter valued at $106,000. Global X Management Co. LLC raised its position in lululemon athletica inc. by 39.7% in the second quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock valued at $151,000 after buying an additional 719 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in lululemon athletica inc. by 4.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,925 shares of the apparel retailer’s stock valued at $142,000 after buying an additional 121 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its position in lululemon athletica inc. by 40.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the apparel retailer’s stock valued at $182,000 after buying an additional 1,000 shares during the period. 79.56% of the stock is owned by hedge funds and other institutional investors.
lululemon athletica inc. 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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