Lululemon Athletica (NASDAQ:LULU) received a $175.00 price objective from investment analysts at Wedbush in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. The brokerage currently has a “hold” rating on the apparel retailer’s stock. Wedbush’s target price points to a potential upside of 2.41% from the company’s previous close.
A number of other equities analysts have also recently weighed in on the company. B. Riley lifted their price target on Lululemon Athletica from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Friday, May 17th. Macquarie raised Lululemon Athletica from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 7th. Oppenheimer raised their price objective on Lululemon Athletica from $190.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Credit Suisse Group raised their price objective on Lululemon Athletica from $190.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, UBS Group raised their price objective on Lululemon Athletica from $176.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Eleven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lululemon Athletica currently has an average rating of “Buy” and an average target price of $178.87.
Shares of LULU opened at $170.89 on Tuesday. The stock has a market capitalization of $22.53 billion, a P/E ratio of 44.50, a P/E/G ratio of 2.04 and a beta of 0.60. Lululemon Athletica has a 1-year low of $110.71 and a 1-year high of $179.49.
Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. The firm had revenue of $782.30 million for the quarter, compared to analysts’ expectations of $755.92 million. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. Lululemon Athletica’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. As a group, analysts expect that Lululemon Athletica will post 4.6 earnings per share for the current fiscal year.
Lululemon Athletica announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the apparel retailer to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Lululemon Athletica news, Director Dennis J. Wilson sold 155,800 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $144.43, for a total value of $22,502,194.00. Following the transaction, the director now directly owns 3,852 shares of the company’s stock, valued at approximately $556,344.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Celeste Burgoyne sold 19,199 shares of Lululemon Athletica stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $166.54, for a total value of $3,197,401.46. Following the completion of the transaction, the executive vice president now directly owns 18,019 shares in the company, valued at $3,000,884.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 519,344 shares of company stock valued at $79,873,942. 0.32% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of LULU. Oregon Public Employees Retirement Fund increased its position in Lululemon Athletica by 11,283.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock worth $33,000 after buying an additional 4,023,801 shares during the period. Jennison Associates LLC increased its position in Lululemon Athletica by 144.2% in the 1st quarter. Jennison Associates LLC now owns 6,321,172 shares of the apparel retailer’s stock worth $1,035,850,000 after buying an additional 3,732,291 shares during the period. Norges Bank bought a new position in Lululemon Athletica in the 4th quarter worth approximately $161,284,000. Vanguard Group Inc increased its position in Lululemon Athletica by 10.6% in the 3rd quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock worth $1,529,244,000 after buying an additional 899,080 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Lululemon Athletica in the 1st quarter worth approximately $107,056,000. 80.78% of the stock is currently owned by institutional investors.
Lululemon Athletica Company Profile
lululemon athletica inc., 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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