Traders Buy Large Volume of Put Options on Lululemon (LULU)
Shares of Lululemon (NASDAQ:LULU) was the recipient of unusually large options trading activity on Friday. Investors bought 48,879 put options on the company, ARN reports. This represents an increase of 303% compared to the typical volume of 12,137 put options.
Several analysts have recently commented on the stock. Analysts at RBC Capital reiterated a “sector perform” rating on shares of Lululemon (NASDAQ:LULU) in a research note to investors on Friday. They now have a $70.00 price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Lululemon (NASDAQ:LULU) from $87.00 to $85.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Barclays Capital cut their price target on shares of Lululemon (NASDAQ:LULU) from $85.00 to $80.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock.
Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $74.47.
Shares of Lululemon (NASDAQ:LULU) opened at 68.37 on Monday. 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 $70.74 and a 200-day moving average of $70.25. The company has a market cap of $9.901 billion and a P/E ratio of 36.96.
Lululemon (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, September 12th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, analysts predict that Lululemon will post $1.97 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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