Lululemon Athletica (NASDAQ:LULU) had its price objective lifted by equities research analysts at Telsey Advisory Group from $84.00 to $92.00 in a research report issued to clients and investors on Tuesday. The firm currently has an “outperform” rating on the apparel retailer’s stock. Telsey Advisory Group’s target price points to a potential upside of 17.06% from the stock’s previous close.
A number of other research firms also recently issued reports on LULU. Needham & Company LLC set a $69.00 price objective on shares of Lululemon Athletica and gave the company a “buy” rating in a report on Monday, October 16th. Citigroup boosted their price objective on shares of Lululemon Athletica to $78.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Royal Bank of Canada reissued a “buy” rating and issued a $77.00 price objective on shares of Lululemon Athletica in a report on Friday, December 8th. Stifel Nicolaus boosted their price objective on shares of Lululemon Athletica from $66.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, December 7th. Finally, B. Riley boosted their price objective on shares of Lululemon Athletica from $55.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $71.08.
Shares of Lululemon Athletica (NASDAQ LULU) traded down $1.02 on Tuesday, reaching $78.59. 1,305,100 shares of the company were exchanged, compared to its average volume of 2,577,324. Lululemon Athletica has a twelve month low of $47.26 and a twelve month high of $80.10. The firm has a market cap of $10,639.43, a price-to-earnings ratio of 39.10, a P/E/G ratio of 2.48 and a beta of 0.19.
Lululemon Athletica declared that its board has initiated a share buyback program on Wednesday, December 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC increased its position in Lululemon Athletica by 591.0% in the 2nd quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after acquiring an additional 1,182 shares during the period. Zions Bancorporation increased its position in Lululemon Athletica by 183.2% in the 3rd 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. Thompson Siegel & Walmsley LLC acquired a new position in Lululemon Athletica in the 3rd quarter valued at approximately $156,000. Oakbrook Investments LLC acquired a new position in Lululemon Athletica in the 3rd quarter valued at approximately $202,000. Finally, Mackenzie Financial Corp acquired a new position in Lululemon Athletica in the 3rd quarter valued at approximately $232,000. Institutional investors and hedge funds own 79.31% 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.
