Stock Traders Purchase Large Volume of Call Options on Lululemon (LULU)
Shares of Lululemon (NASDAQ:LULU) saw some unusual options trading on Thursday. Stock traders bought 31,459 call options on the company, American Banking News reports. This is an increase of approximately 219% compared to the typical volume of 9,854 call options.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank initiated coverage on shares of Lululemon (NASDAQ:LULU) in a research note to investors on Wednesday. They set a “hold” rating and a $65.00 price target on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of Lululemon (NASDAQ:LULU) in a research note to investors on Monday. They set a “buy” rating and a $69.49 price target on the stock. Finally, analysts at Janney Montgomery Scott cut their price target on shares of Lululemon (NASDAQ:LULU) from $87.00 to $79.00 in a research note to investors on Monday. They now have a “buy” rating on the stock.
Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Lululemon currently has a consensus rating of “Hold” and an average price target of $75.17.
Shares of Lululemon (NASDAQ:LULU) traded down 5.40% during mid-day trading on Thursday, hitting $65.29. 22,784,306 shares of the company’s stock traded hands. Lululemon has a 52-week low of $59.60 and a 52-week high of $82.50. The stock has a 50-day moving average of $70.84 and a 200-day moving average of $70.27. The company has a market cap of $9.438 billion and a P/E ratio of 37.31.
Lululemon (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, September 12th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.04. The company had revenue of $344.50 million for the quarter, compared to the consensus estimate of $342.70 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts predict that Lululemon will post $1.99 earnings per share for the current fiscal year.
Manufactures, distributes and sells technical athletics and yoga apparel. The Company works in cooperation with various athletes to create designs specific to meet their needs.
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