lululemon athletica (NASDAQ:LULU)‘s stock had its “overweight” rating reaffirmed by analysts at J P Morgan Chase & Co in a report issued on Thursday, The Fly reports. They currently have a $79.00 price objective on the apparel retailer’s stock. J P Morgan Chase & Co’s target price indicates a potential upside of 9.71% from the company’s previous close.

A number of other analysts also recently weighed in on LULU. Vetr upgraded lululemon athletica from a “hold” rating to a “buy” rating and set a $63.40 price target on the stock in a research note on Thursday, August 10th. BidaskClub downgraded lululemon athletica from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research downgraded lululemon athletica from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Bank of America upgraded lululemon athletica from an “underperform” rating to a “buy” rating and lifted their price target for the company from $48.00 to $70.00 in a research note on Monday, August 21st. Finally, Cowen set a $67.00 price target on lululemon athletica and gave the company a “buy” rating in a research note on Monday, August 21st. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $69.65.

Shares of lululemon athletica (NASDAQ LULU) traded up $4.35 during mid-day trading on Thursday, hitting $72.01. The company’s stock had a trading volume of 9,127,847 shares, compared to its average volume of 2,641,701. lululemon athletica has a one year low of $47.26 and a one year high of $73.84. The stock has a market cap of $8,983.88, a P/E ratio of 30.44, a P/E/G ratio of 2.46 and a beta of 0.19.

lululemon athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.04. lululemon athletica had a return on equity of 22.51% and a net margin of 11.68%. The company had revenue of $619.00 million for the quarter, compared to the consensus estimate of $610.56 million. During the same period last year, the business posted $0.50 EPS. The company’s revenue was up 13.7% on a year-over-year basis. research analysts expect that lululemon athletica will post 2.43 earnings per share for the current fiscal year.

lululemon athletica declared that its board has authorized a share buyback program on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LULU. Dimensional Fund Advisors LP raised its holdings in shares of lululemon athletica by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 284,524 shares of the apparel retailer’s stock worth $14,755,000 after acquiring an additional 6,448 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of lululemon athletica by 77.7% in the second quarter. Russell Investments Group Ltd. now owns 190,439 shares of the apparel retailer’s stock worth $11,363,000 after acquiring an additional 83,300 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of lululemon athletica by 6.4% in the second quarter. Janney Montgomery Scott LLC now owns 23,918 shares of the apparel retailer’s stock worth $1,427,000 after acquiring an additional 1,449 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of lululemon athletica in the second quarter worth $291,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of 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 worth $2,924,000 after acquiring an additional 5,000 shares during the last quarter. 79.45% of the stock is owned by institutional investors.

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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.

The Fly

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