Lululemon Upgraded to “Outperform” by Credit Suisse (LULU)
Lululemon (NASDAQ:LULU) was upgraded by stock analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a report issued on Friday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Lululemon (NASDAQ:LULU) in a research note to investors on Thursday. Separately, 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. Finally, 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.
Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $74.92.
Shares of Lululemon (NASDAQ:LULU) traded up 1.46% on Friday, hitting $66.24. The stock had a trading volume of 1,634,748 shares. Lululemon has a 1-year low of $59.60 and a 1-year high of $82.50. The stock has a 50-day moving average of $70.77 and a 200-day moving average of $70.24. The company has a market cap of $9.575 billion and a price-to-earnings ratio of 35.29. Lululemon also was the target of some unusual options trading on Tuesday. Stock traders bought 21,088 call options on the company. This is an increase of approximately 179% compared to the typical volume of 7,545 call options.
Lululemon (NASDAQ:LULU) last posted its quarterly earnings results 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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