lululemon athletica (NASDAQ:LULU) was upgraded by stock analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $58.00 price objective on the apparel retailer’s stock. Deutsche Bank’s target price would indicate a potential downside of 22.44% from the company’s previous close.
Several other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of lululemon athletica from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Monday. Jefferies Group reissued a “hold” rating on shares of lululemon athletica in a research note on Friday, December 8th. Morgan Stanley reissued a “hold” rating and set a $69.00 target price on shares of lululemon athletica in a research note on Thursday, December 7th. KeyCorp reaffirmed a “hold” rating on shares of lululemon athletica in a research note on Thursday, December 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $77.00 price target on shares of lululemon athletica in a research note on Friday, December 8th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $70.18.
Shares of lululemon athletica (NASDAQ:LULU) traded up $0.59 during trading hours on Thursday, reaching $74.78. 2,038,326 shares of the company’s stock traded hands, compared to its average volume of 2,627,613. lululemon athletica has a 52 week low of $47.26 and a 52 week high of $75.95. The firm has a market cap of $10,060.16, a P/E ratio of 32.74, a P/E/G ratio of 2.43 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 (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.04. lululemon athletica had a net margin of 10.96% and a return on equity of 22.52%. The company had revenue of $619.00 million for the quarter, compared to the consensus estimate of $610.56 million. During the same period in the previous year, the business earned $0.50 EPS. The company’s revenue was up 13.7% on a year-over-year basis. equities analysts anticipate that lululemon athletica will post 2.48 earnings per share for the current fiscal year.
lululemon athletica declared that its board has approved a stock buyback program on Wednesday, December 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of institutional investors have recently bought and sold shares of the business. Piedmont Investment Advisors LLC acquired a new position in lululemon athletica during the third quarter worth $1,197,000. California Public Employees Retirement System increased its position in lululemon athletica by 0.8% during the third quarter. California Public Employees Retirement System now owns 216,882 shares of the apparel retailer’s stock worth $13,501,000 after buying an additional 1,782 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in lululemon athletica by 152.5% during the third quarter. Cubist Systematic Strategies LLC now owns 19,331 shares of the apparel retailer’s stock valued at $1,203,000 after acquiring an additional 11,676 shares during the period. Zions Bancorporation boosted its holdings in lululemon athletica by 183.2% during the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after acquiring an additional 1,356 shares during the period. Finally, Grandeur Peak Global Advisors LLC boosted its holdings in lululemon athletica by 30.3% during the third quarter. Grandeur Peak Global Advisors LLC now owns 103,775 shares of the apparel retailer’s stock valued at $6,460,000 after acquiring an additional 24,150 shares during the period. 79.45% of the stock is currently 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.