Lululemon Price Target Raised to $63.00 at Nomura (LULU)
Equities research analysts at Nomura increased their price target on shares of Lululemon (NASDAQ:LULU) from $53.00 to $63.00 in a research note issued to investors on Tuesday, Analyst Ratings Network.com reports. The firm currently has a “market perform” rating on the stock. Nomura’s price objective points to a potential upside of 23.41% from the company’s current price.
LULU has been the subject of a number of other recent research reports. Analysts at Oppenheimer upgraded shares of Lululemon from a “market perform” rating to an “outperform” rating in a research note on Tuesday. They now have a $63.00 price target on the stock, up previously from $53.00. Separately, analysts at RBC Capital upgraded shares of Lululemon from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 7th. They now have a $56.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at TheStreet downgraded shares of Lululemon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. Lululemon has an average rating of “Hold” and an average price target of $64.47.
Shares of Lululemon (NASDAQ:LULU) opened at 51.05 on Tuesday. Lululemon has a 52 week low of $44.32 and a 52 week high of $82.50. The stock’s 50-day moving average is $50.74 and its 200-day moving average is $65.30. The company has a market cap of $7.413 billion and a price-to-earnings ratio of 26.36. Lululemon also saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 21,643,366 shares, an increase of 7.1% from the January 15th total of 20,203,246 shares. Based on an average trading volume of 4,357,555 shares, the short-interest ratio is currently 5.0 days. Approximately 20.7% of the company’s shares are short sold.
Lululemon (NASDAQ:LULU) last released its earnings data on Thursday, December 12th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts expect that Lululemon will post $1.89 EPS for the current fiscal year.
lululemon athletica inc. is a designer and retailer of technical athletic apparel operating primarily in North America and Australia.
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