lululemon athletica (LULU) Price Target Increased to $75.00 by Analysts at Stifel Nicolaus
lululemon athletica (NASDAQ:LULU) had its price target upped by stock analysts at Stifel Nicolaus from $66.00 to $75.00 in a report released on Thursday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the apparel retailer’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 4.15% from the stock’s previous close.
Several other research firms have also commented on LULU. Needham & Company LLC set a $69.00 target price on lululemon athletica and gave the company a “buy” rating in a research note on Monday, October 16th. KeyCorp reiterated a “hold” rating on shares of lululemon athletica in a research note on Friday, August 25th. B. Riley upped their price target on lululemon athletica from $55.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday. J P Morgan Chase & Co restated a “buy” rating and set a $71.00 price target on shares of lululemon athletica in a research note on Friday, September 1st. Finally, Zacks Investment Research upgraded lululemon athletica from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Wednesday, September 6th. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $69.65.
lululemon athletica (NASDAQ:LULU) traded up $4.35 during midday trading on Thursday, hitting $72.01. The stock had a trading volume of 9,127,847 shares, compared to its average volume of 2,641,701. lululemon athletica has a 12 month low of $47.26 and a 12 month high of $73.84. The firm has a market capitalization of $8,983.88, a PE ratio of 30.44, a price-to-earnings-growth ratio of 2.46 and a beta of 0.19.
lululemon athletica declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of LULU. Dimensional Fund Advisors LP boosted its holdings in lululemon athletica by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 284,524 shares of the apparel retailer’s stock valued at $14,755,000 after purchasing an additional 6,448 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in lululemon athletica by 77.7% in the second quarter. Russell Investments Group Ltd. now owns 190,439 shares of the apparel retailer’s stock valued at $11,363,000 after purchasing an additional 83,300 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in lululemon athletica by 6.4% in the second quarter. Janney Montgomery Scott LLC now owns 23,918 shares of the apparel retailer’s stock valued at $1,427,000 after purchasing an additional 1,449 shares during the last quarter. CIBC Asset Management Inc purchased a new position in lululemon athletica in the second quarter valued at about $291,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in lululemon athletica by 11.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 49,000 shares of the apparel retailer’s stock valued at $2,924,000 after purchasing an additional 5,000 shares during the last quarter. 79.45% of the stock is owned by hedge funds and other institutional investors.
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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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