Lululemon Upgraded to “Buy” at DA Davidson (LULU)
Lululemon (NASDAQ:LULU) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $73.00 price objective on the stock, up from their previous price objective of $67.00. DA Davidson’s price target points to a potential upside of 25.26% from the stock’s previous close.
The analysts wrote, “Despite 2013 hiccups, the lululemon brand remains the leader in an attractive category. Consumer interest in lululemon remains incredibly high,” the report said “Over the holidays, LULU stores were consistently one of the most crowded and exciting stores at each shopping location we visited. Athletic brands as well as new entrants are making the category more competitive, but LULU remains the benchmark from both a product style and quality standpoint. This leadership position was dented in 2013, but with new management and improved internal controls, we believe the supply chain and PR troubles of 2013 are surmountable.”
Lululemon (NASDAQ:LULU) traded up 0.87% on Tuesday, hitting $58.28. 3,167,745 shares of the company’s stock traded hands. Lululemon has a 52-week low of $57.35 and a 52-week high of $82.50. The stock has a 50-day moving average of $64.10 and a 200-day moving average of $68.67. The company has a market cap of $8.463 billion and a price-to-earnings ratio of 30.41.
Lululemon (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, December 12th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.04. The company had revenue of $379.90 million for the quarter, compared to the consensus estimate of $376.20 million. During the same quarter last year, the company posted $0.39 earnings per share. Lululemon’s revenue was up 20.0% compared to the same quarter last year. Analysts expect that Lululemon will post $1.95 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Topeka Capital Markets initiated coverage on shares of Lululemon in a research note to investors on Thursday, December 19th. They set a “buy” rating and a $70.00 price target on the stock. Separately, analysts at UBS AG cut their price target on shares of Lululemon from $69.00 to $66.00 in a research note to investors on Friday, December 13th. They now have a “neutral” rating on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Lululemon from $90.00 to $82.00 in a research note to investors on Friday, December 13th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lululemon has a consensus rating of “Hold” and a consensus price target of $72.65.
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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