Needham & Company LLC Reaffirms “Buy” Rating for lululemon athletica (LULU)
lululemon athletica (NASDAQ:LULU)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report issued on Friday, Marketbeat Ratings reports. They presently have a $71.00 price target on the apparel retailer’s stock, up from their prior price target of $69.00. Needham & Company LLC’s price objective would indicate a potential upside of 5.62% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of lululemon athletica from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. B. Riley reissued a “neutral” rating on shares of lululemon athletica in a report on Wednesday, November 1st. BidaskClub cut shares of lululemon athletica from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Vetr raised shares of lululemon athletica from a “hold” rating to a “buy” rating and set a $63.40 target price on the stock in a report on Thursday, August 10th. Finally, BMO Capital Markets set a $55.00 price target on shares of lululemon athletica and gave the stock a “hold” rating in a report on Tuesday, August 8th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $65.85.
Shares of lululemon athletica (LULU) traded up $0.26 during mid-day trading on Friday, reaching $67.22. 1,794,921 shares of the company’s stock were exchanged, compared to its average volume of 2,606,675. lululemon athletica has a 1-year low of $47.26 and a 1-year high of $72.70. The company has a market cap of $9,100.00, a PE ratio of 30.90, a price-to-earnings-growth ratio of 2.49 and a beta of 0.15.
Large investors have recently made changes to their positions in the stock. IHT Wealth Management LLC grew its position in lululemon athletica by 591.0% in the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock worth $105,000 after acquiring an additional 1,182 shares in the last quarter. Zions Bancorporation grew its position in lululemon athletica by 183.2% in the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock worth $130,000 after acquiring an additional 1,356 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in lululemon athletica in the third quarter worth $156,000. Global X Management Co. LLC grew its position in lululemon athletica by 39.7% in the second quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock worth $151,000 after acquiring an additional 719 shares in the last quarter. Finally, Oakbrook Investments LLC purchased a new position in lululemon athletica in the third quarter worth $202,000. Institutional investors own 79.44% of the company’s stock.
About lululemon athletica
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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