Lululemon Athletica (NASDAQ:LULU) has been given a $78.00 target price by equities research analysts at Cowen in a report released on Monday. The brokerage presently has a “buy” rating on the apparel retailer’s stock. Cowen’s price target would suggest a potential downside of 1.32% from the stock’s current price.
A number of other brokerages have also recently commented on LULU. Sanford C. Bernstein started coverage on Lululemon Athletica in a research note on Tuesday, September 12th. They set a “market perform” rating and a $66.00 price objective on the stock. Zacks Investment Research cut Lululemon Athletica from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. BMO Capital Markets restated a “hold” rating and set a $55.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, September 13th. Canaccord Genuity restated a “sell” rating and set a $43.00 price objective on shares of Lululemon Athletica in a research note on Friday, September 22nd. Finally, Robert W. Baird restated a “buy” rating and set a $72.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $72.08.
Lululemon Athletica (NASDAQ LULU) traded down $0.39 during mid-day trading on Monday, reaching $79.04. The company’s stock had a trading volume of 3,042,532 shares, compared to its average volume of 1,870,650. Lululemon Athletica has a 1 year low of $47.26 and a 1 year high of $80.46. The stock has a market capitalization of $10,700.00, a P/E ratio of 39.32, a PEG ratio of 2.51 and a beta of 0.19.
Lululemon Athletica declared that its board has approved a stock buyback plan on Wednesday, December 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the apparel retailer to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
Several large investors have recently bought and sold shares of LULU. Chelsea Counsel Company bought a new position in shares of Lululemon Athletica during the third quarter valued at approximately $218,000. Janus Capital Management grew its holdings in Lululemon Athletica by 549.2% in the 3rd quarter. Janus Capital Management now owns 775,764 shares of the apparel retailer’s stock worth $39,293,000 after buying an additional 656,264 shares in the last quarter. Manning & Napier Advisors grew its holdings in Lululemon Athletica by 8.6% in the 4th quarter. Manning & Napier Advisors now owns 9,212,577 shares of the apparel retailer’s stock worth $483,383,000 after buying an additional 729,689 shares in the last quarter. P. R. Herzig & Company bought a new position in Lululemon Athletica in the 4th quarter worth approximately $690,000. Finally, Fourth Swedish National Pension Fund grew its holdings in Lululemon Athletica by 1.1% in the 4th quarter. Fourth Swedish National Pension Fund now owns 31,958 shares of the apparel retailer’s stock worth $1,677,000 after buying an additional 342 shares in the last quarter. 79.31% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “Lululemon Athletica (LULU) Given a $78.00 Price Target at Cowen” was first reported by American Market News and is owned by of American Market News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/08/lululemon-athletica-lulu-given-a-78-00-price-target-at-cowen.html.
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.
