lululemon athletica inc. (NASDAQ:LULU) Upgraded by Zacks Investment Research to Buy
lululemon athletica inc. (NASDAQ:LULU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $66.00 target price on the apparel retailer’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.47% from the stock’s previous close.
According to Zacks, “Lululemon stock has made notable recovery, outperforming the broader industry in the last three months, after delivering top and bottom line beat in first-quarter fiscal 2017. Further, the company is all set to utilize its capabilities built in fiscal 2015 over the next five years. In fact, by 2020, the company aims to double its revenues to about $4 billion and more than double its earnings. Moreover, the company’s eCommerce growth initiatives and ivivva remodeling bode well. We note that the company’s eCommerce comps improved in the low-double digits range so far in the fiscal second-quarter. This led the company to provide solid comps guidance for the second quarter and fiscal 2017, reflecting further strengthening of eCommerce business. However, in-store comps continue to suffer. The company also tweaked revenue forecast for fiscal 2017, which indicates further weakness.”
Several other analysts have also recently issued reports on the company. Robert W. Baird reiterated an “outperform” rating and set a $70.00 target price on shares of lululemon athletica inc. in a research report on Monday. Royal Bank Of Canada restated a “buy” rating and set a $64.00 price target on shares of lululemon athletica inc. in a report on Friday. BMO Capital Markets set a $55.00 price target on lululemon athletica inc. and gave the company a “hold” rating in a report on Thursday, July 6th. BidaskClub upgraded lululemon athletica inc. from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Vetr upgraded lululemon athletica inc. from a “hold” rating to a “buy” rating and set a $63.40 price target for the company in a report on Thursday, June 29th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. lululemon athletica inc. currently has a consensus rating of “Hold” and a consensus price target of $64.53.
Shares of lululemon athletica inc. (NASDAQ:LULU) traded down 0.32% during midday trading on Tuesday, reaching $58.49. The company had a trading volume of 707,312 shares. lululemon athletica inc. has a 1-year low of $47.26 and a 1-year high of $81.81. The company’s 50-day moving average is $51.98 and its 200-day moving average is $59.64. The stock has a market capitalization of $8.00 billion, a PE ratio of 27.71 and a beta of 0.23.
lululemon athletica inc. (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, June 1st. The apparel retailer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. lululemon athletica inc. had a return on equity of 23.43% and a net margin of 12.21%. The business had revenue of $520.30 million during the quarter, compared to analysts’ expectations of $513.99 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that lululemon athletica inc. will post $2.34 EPS for the current year.
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In related news, Director Glenn Murphy acquired 97,728 shares of lululemon athletica inc. stock in a transaction dated Monday, June 26th. The shares were acquired at an average cost of $55.50 per share, for a total transaction of $5,423,904.00. Following the completion of the purchase, the director now owns 100,344 shares in the company, valued at $5,569,092. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of LULU. Mn Services Vermogensbeheer B.V. raised its position in lululemon athletica inc. by 4.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,925 shares of the apparel retailer’s stock valued at $142,000 after buying an additional 121 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in lululemon athletica inc. by 40.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the apparel retailer’s stock valued at $182,000 after buying an additional 1,000 shares during the period. Suntrust Banks Inc. acquired a new position in lululemon athletica inc. during the first quarter valued at approximately $206,000. Prospera Financial Services Inc acquired a new position in lululemon athletica inc. during the first quarter valued at approximately $210,000. Finally, Canada Pension Plan Investment Board raised its position in lululemon athletica inc. by 80.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,358 shares of the apparel retailer’s stock valued at $226,000 after buying an additional 1,948 shares during the period. 79.78% of the stock is currently owned by hedge funds and other institutional investors.
lululemon athletica inc. Company Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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