lululemon athletica inc. (NASDAQ:LULU) Receives “Outperform” Rating from Cowen and Company
lululemon athletica inc. (NASDAQ:LULU)‘s stock had its “outperform” rating reissued by Cowen and Company in a research note issued on Saturday. They currently have a $67.00 target price on the apparel retailer’s stock, up from their previous target price of $64.00. Cowen and Company’s price target points to a potential upside of 8.17% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Vetr cut shares of lululemon athletica inc. from a “buy” rating to a “hold” rating and set a $63.40 target price on the stock. in a report on Wednesday. Needham & Company LLC assumed coverage on shares of lululemon athletica inc. in a research note on Tuesday. They set a “buy” rating and a $67.00 price target on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $56.00 price target on shares of lululemon athletica inc. in a research note on Friday, July 14th. CIBC reiterated an “outperform” rating and set a $68.00 price target (up previously from $65.00) on shares of lululemon athletica inc. in a research note on Friday, July 14th. Finally, Oppenheimer Holdings, Inc. lifted their price target on shares of lululemon athletica inc. from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $64.56.
lululemon athletica inc. (NASDAQ:LULU) traded up 1.36% during mid-day trading on Friday, reaching $61.94. The company’s stock had a trading volume of 2,193,098 shares. The firm has a 50 day moving average price of $55.85 and a 200 day moving average price of $58.95. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 29.34 and a beta of 0.24. lululemon athletica inc. has a 52-week low of $47.26 and a 52-week high of $81.81.
lululemon athletica inc. (NASDAQ:LULU) last issued its earnings results on Thursday, June 1st. The apparel retailer reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. lululemon athletica inc. had a net margin of 12.21% and a return on equity of 23.43%. The company had revenue of $520.30 million for the quarter, compared to analysts’ expectations of $513.99 million. During the same quarter last year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts anticipate that lululemon athletica inc. will post $2.33 earnings per share for the current year.
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In other lululemon athletica inc. news, Director Glenn Murphy bought 97,728 shares of lululemon athletica inc. stock in a transaction dated Monday, June 26th. The shares were purchased at an average cost of $55.50 per share, for a total transaction of $5,423,904.00. Following the acquisition, the director now directly owns 100,344 shares in the company, valued at approximately $5,569,092. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Exane Derivatives acquired a new stake in lululemon athletica inc. during the second quarter worth $106,000. Mn Services Vermogensbeheer B.V. increased its stake 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 worth $142,000 after buying an additional 121 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake 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 worth $182,000 after buying an additional 1,000 shares during the period. Suntrust Banks Inc. acquired a new stake in lululemon athletica inc. during the first quarter worth $206,000. Finally, Prospera Financial Services Inc acquired a new stake in lululemon athletica inc. during the first quarter worth $210,000. Hedge funds and other institutional investors own 79.85% of the company’s stock.
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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