lululemon athletica inc. (LULU) Upgraded to Strong-Buy at Vetr Inc.
lululemon athletica inc. (NASDAQ:LULU) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The firm currently has a $66.00 price objective on the apparel retailer’s stock. Vetr‘s price target would indicate a potential upside of 11.04% from the company’s previous close.
A number of other brokerages also recently issued reports on LULU. Jefferies Group LLC reaffirmed a “hold” rating and issued a $56.00 price objective on shares of lululemon athletica inc. in a research report on Friday, July 14th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $59.00 price objective (up from $58.00) on shares of lululemon athletica inc. in a research report on Saturday, June 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $58.00 price objective (up from $56.00) on shares of lululemon athletica inc. in a research report on Friday, June 2nd. Zacks Investment Research downgraded shares of lululemon athletica inc. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, BidaskClub raised shares of lululemon athletica inc. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $65.37.
Shares of lululemon athletica inc. (NASDAQ LULU) traded up 2.25% during trading on Monday, hitting $59.44. The stock had a trading volume of 4,223,233 shares. lululemon athletica inc. has a 1-year low of $47.26 and a 1-year high of $81.81. The firm has a 50-day moving average of $60.38 and a 200 day moving average of $58.01. The company has a market capitalization of $8.13 billion, a P/E ratio of 28.16 and a beta of 0.25.
lululemon athletica inc. (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, June 1st. The apparel retailer reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $520.30 million during the quarter, compared to the consensus estimate of $513.99 million. During the same period in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that lululemon athletica inc. will post $2.34 earnings per share for the current fiscal 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 that occurred on Monday, June 26th. The shares were bought at an average price of $55.50 per share, with a total value of $5,423,904.00. Following the acquisition, the director now owns 100,344 shares in the company, valued at $5,569,092. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC raised its position in lululemon athletica inc. by 591.0% in the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after buying an additional 1,182 shares in the last quarter. Exane Derivatives acquired a new position in lululemon athletica inc. during the second quarter valued at approximately $106,000. 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 in the last quarter. Global X Management Co. LLC raised its position in lululemon athletica inc. by 39.7% in the second quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock valued at $151,000 after buying an additional 719 shares in the last quarter. Finally, 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 in the last quarter. 80.64% of the stock is currently owned by 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.
To view Vetr’s full report, visit Vetr’s official website.
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