lululemon athletica (LULU) Upgraded at Canaccord Genuity
lululemon athletica (NASDAQ:LULU) was upgraded by research analysts at Canaccord Genuity from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm presently has a $70.00 price objective on the apparel retailer’s stock, up from their previous price objective of $43.00. Canaccord Genuity’s price objective would suggest a potential downside of 2.79% from the company’s previous close.
A number of other research firms also recently weighed in on LULU. B. Riley restated a “neutral” rating on shares of lululemon athletica in a research report on Wednesday, November 1st. Stifel Nicolaus upped their target price on lululemon athletica from $66.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday. J P Morgan Chase & Co restated an “overweight” rating and issued a $79.00 target price on shares of lululemon athletica in a research report on Thursday. Vetr upgraded lululemon athletica from a “hold” rating to a “buy” rating and set a $63.40 target price for the company in a research report on Thursday, August 10th. Finally, Cowen restated a “buy” rating and issued a $78.00 target price (up from $68.00) on shares of lululemon athletica in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. lululemon athletica presently has a consensus rating of “Hold” and an average price target of $69.65.
Shares of 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. The firm has a market capitalization of $8,983.88, a P/E ratio of 30.44, a PEG ratio of 2.46 and a beta of 0.19. lululemon athletica has a fifty-two week low of $47.26 and a fifty-two week high of $73.84.
lululemon athletica announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the apparel retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
Large investors have recently made changes to their positions in the business. Comerica Bank grew its holdings in shares of lululemon athletica by 1.0% during the 2nd quarter. Comerica Bank now owns 11,264 shares of the apparel retailer’s stock valued at $699,000 after acquiring an additional 115 shares in the last quarter. Suntrust Banks Inc. grew its holdings in shares of lululemon athletica by 5.9% during the 2nd quarter. Suntrust Banks Inc. now owns 4,239 shares of the apparel retailer’s stock valued at $252,000 after acquiring an additional 237 shares in the last quarter. Bender Robert & Associates grew its holdings in shares of lululemon athletica by 0.4% during the 2nd quarter. Bender Robert & Associates now owns 84,141 shares of the apparel retailer’s stock valued at $5,021,000 after acquiring an additional 302 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of lululemon athletica by 39.7% during the 2nd quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock valued at $151,000 after acquiring an additional 719 shares in the last quarter. Finally, Scotia Capital Inc. grew its holdings in shares of lululemon athletica by 23.0% during the 2nd quarter. Scotia Capital Inc. now owns 5,221 shares of the apparel retailer’s stock valued at $311,000 after acquiring an additional 978 shares in the last quarter. 79.45% of the stock is currently owned by 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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