lululemon athletica (LULU) Rating Reiterated by Cowen
lululemon athletica (NASDAQ:LULU)‘s stock had its “buy” rating reaffirmed by stock analysts at Cowen in a research note issued to investors on Thursday. They currently have a $78.00 price objective on the apparel retailer’s stock, up from their prior price objective of $68.00. Cowen’s price objective indicates a potential upside of 8.32% from the company’s current price.
A number of other equities analysts have also recently commented on the company. Canaccord Genuity set a $41.00 price target on lululemon athletica and gave the stock a “sell” rating in a report on Tuesday, August 29th. Vetr upgraded lululemon athletica from a “buy” rating to a “strong-buy” rating and set a $66.00 price target for the company in a report on Wednesday, August 30th. Nomura reiterated a “buy” rating and set a $67.00 price target (up previously from $65.00) on shares of lululemon athletica in a report on Friday, September 1st. Citigroup upgraded lululemon athletica from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $61.50 to $60.09 in a report on Friday, October 20th. Finally, Deutsche Bank restated a “hold” rating and set a $59.00 price objective on shares of lululemon athletica in a research report on Friday, September 1st. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.65.
lululemon athletica (NASDAQ:LULU) traded up $4.35 during trading on Thursday, reaching $72.01. The company had a trading volume of 9,127,847 shares, compared to its average volume of 2,641,701. lululemon athletica has a fifty-two week low of $47.26 and a fifty-two week high of $73.84. The company has a market capitalization of $8,983.88, a PE ratio of 30.44, a P/E/G ratio of 2.46 and a beta of 0.19.
lululemon athletica announced that its board has authorized a share repurchase program on Wednesday, December 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of lululemon athletica by 3.1% in the second quarter. Vanguard Group Inc. now owns 7,850,066 shares of the apparel retailer’s stock worth $468,413,000 after purchasing an additional 233,035 shares during the last quarter. BlackRock Inc. grew its stake in shares of lululemon athletica by 4.4% in the second quarter. BlackRock Inc. now owns 5,373,376 shares of the apparel retailer’s stock worth $320,629,000 after purchasing an additional 228,068 shares during the last quarter. HS Management Partners LLC grew its stake in shares of lululemon athletica by 36.4% in the second quarter. HS Management Partners LLC now owns 2,775,486 shares of the apparel retailer’s stock worth $165,613,000 after purchasing an additional 741,200 shares during the last quarter. Janus Henderson Group PLC boosted its position in lululemon athletica by 16,053.2% during the second quarter. Janus Henderson Group PLC now owns 2,614,550 shares of the apparel retailer’s stock valued at $156,010,000 after acquiring an additional 2,598,364 shares during the last quarter. Finally, Eaton Vance Management bought a new stake in lululemon athletica during the second quarter valued at $126,967,000. 79.45% of the stock is currently owned by institutional investors.
lululemon athletica 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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