Lululemon Athletica (NASDAQ:LULU) had its price objective hoisted by research analysts at Needham & Company LLC from $79.00 to $84.00 in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the apparel retailer’s stock. Needham & Company LLC’s price objective indicates a potential upside of 6.28% from the stock’s current price.
A number of other equities analysts have also issued reports on the company. SunTrust Banks raised their price target on Lululemon Athletica to $90.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus reissued a “hold” rating on shares of Lululemon Athletica in a report on Tuesday. Cowen set a $78.00 price target on Lululemon Athletica and gave the stock a “buy” rating in a report on Monday. Canaccord Genuity set a $75.00 price target on Lululemon Athletica and gave the stock a “hold” rating in a report on Sunday. Finally, Barclays reissued a “buy” rating and set a $95.00 price target on shares of Lululemon Athletica in a report on Monday. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Lululemon Athletica currently has an average rating of “Buy” and a consensus price target of $72.47.
Shares of Lululemon Athletica (NASDAQ:LULU) opened at $79.04 on Tuesday. The firm has a market capitalization of $10,700.00, a price-to-earnings ratio of 39.32, a price-to-earnings-growth ratio of 2.51 and a beta of 0.19. Lululemon Athletica has a 52 week low of $47.26 and a 52 week high of $81.92.
Lululemon Athletica announced that its board has approved a stock repurchase plan on Wednesday, December 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC lifted its stake in Lululemon Athletica by 591.0% during the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after purchasing an additional 1,182 shares during the last quarter. Zions Bancorporation lifted its position in shares of 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 in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Lululemon Athletica in the 3rd quarter valued at approximately $156,000. Oakbrook Investments LLC purchased a new stake in shares of Lululemon Athletica in the 3rd quarter valued at approximately $202,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Lululemon Athletica in the 3rd quarter valued at approximately $232,000. 79.31% of the stock is owned by institutional investors and hedge funds.
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.
