lululemon athletica (NASDAQ:LULU) had its price objective increased by equities research analysts at MKM Partners to $89.00 in a research report issued on Friday. The brokerage presently has a “buy” rating on the apparel retailer’s stock. MKM Partners’ target price indicates a potential upside of 19.02% from the company’s current price.
A number of other brokerages also recently commented on LULU. Deutsche Bank upgraded lululemon athletica from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday. Susquehanna Bancshares restated a “buy” rating and issued a $85.00 target price on shares of lululemon athletica in a research note on Thursday. Jefferies Group restated a “hold” rating on shares of lululemon athletica in a research note on Friday, December 8th. Zacks Investment Research upgraded lululemon athletica from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Monday. Finally, KeyCorp restated a “hold” rating on shares of lululemon athletica in a research note on Thursday, December 7th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. lululemon athletica has a consensus rating of “Hold” and an average target price of $70.15.
Shares of lululemon athletica (LULU) opened at $74.78 on Friday. The firm has a market capitalization of $10,043.92, a PE ratio of 32.68, a P/E/G ratio of 2.42 and a beta of 0.19. lululemon athletica has a fifty-two week low of $47.26 and a fifty-two week high of $75.95.
lululemon athletica (NASDAQ:LULU) last announced its quarterly earnings data on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.04. The firm had revenue of $619.00 million during the quarter, compared to analyst estimates of $610.56 million. lululemon athletica had a return on equity of 22.52% and a net margin of 10.96%. lululemon athletica’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. sell-side analysts anticipate that lululemon athletica will post 2.48 EPS for the current fiscal year.
lululemon athletica declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IHT Wealth Management LLC lifted its position in lululemon athletica by 591.0% in the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock worth $105,000 after purchasing an additional 1,182 shares during the period. Zions Bancorporation lifted its position in lululemon athletica by 183.2% in the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock worth $130,000 after purchasing an additional 1,356 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in lululemon athletica in the third quarter worth approximately $156,000. Global X Management Co. LLC lifted its position in lululemon athletica by 39.7% in the second quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock worth $151,000 after purchasing an additional 719 shares during the period. Finally, Oakbrook Investments LLC acquired a new stake in lululemon athletica in the third quarter worth approximately $202,000. Hedge funds and other institutional investors own 79.45% of the company’s stock.
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.