Lululemon Athletica (NASDAQ:LULU) had its price objective raised by stock analysts at MKM Partners from $89.00 to $92.00 in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the apparel retailer’s stock. MKM Partners’ target price would indicate a potential upside of 16.56% from the company’s previous close.
LULU has been the topic of a number of other reports. SunTrust Banks raised their target price on Lululemon Athletica to $90.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research cut Lululemon Athletica from a “hold” rating to a “sell” rating in a report on Tuesday, November 28th. Robert W. Baird reaffirmed an “in-line” rating and issued a $82.00 target price (up from $72.00) on shares of Lululemon Athletica in a report on Thursday, December 7th. Needham & Company LLC raised their target price on Lululemon Athletica from $79.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $55.00 target price on shares of Lululemon Athletica in a report on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $72.71.
Lululemon Athletica (NASDAQ:LULU) traded down $0.58 during midday trading on Wednesday, hitting $78.93. The stock had a trading volume of 98,656 shares, compared to its average volume of 2,120,000. The company has a market cap of $10,690.00, a PE ratio of 39.27, a price-to-earnings-growth ratio of 2.51 and a beta of 0.19. Lululemon Athletica has a 12-month low of $47.26 and a 12-month high of $81.92.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.04. Lululemon Athletica had a return on equity of 22.52% and a net margin of 10.96%. The firm had revenue of $619.00 million for the quarter, compared to analysts’ expectations of $610.56 million. During the same period in the prior year, the firm earned $0.50 EPS. The company’s revenue was up 13.7% compared to the same quarter last year. research analysts anticipate that Lululemon Athletica will post 2.48 earnings per share for the current fiscal year.
Lululemon Athletica declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mycio Wealth Partners LLC grew its position in Lululemon Athletica by 0.6% in the second quarter. Mycio Wealth Partners LLC now owns 1,972 shares of the apparel retailer’s stock worth $146,000 after acquiring an additional 12 shares in the last quarter. Van ECK Associates Corp grew its position in Lululemon Athletica by 2.9% in the fourth quarter. Van ECK Associates Corp now owns 1,609 shares of the apparel retailer’s stock worth $105,000 after acquiring an additional 46 shares in the last quarter. Parsons Capital Management Inc. RI grew its position in Lululemon Athletica by 0.5% in the third quarter. Parsons Capital Management Inc. RI now owns 9,825 shares of the apparel retailer’s stock worth $599,000 after acquiring an additional 50 shares in the last quarter. Bridgecreek Investment Management LLC grew its position in Lululemon Athletica by 0.3% in the second quarter. Bridgecreek Investment Management LLC now owns 19,400 shares of the apparel retailer’s stock worth $1,433,000 after acquiring an additional 65 shares in the last quarter. Finally, Penserra Capital Management LLC grew its position in Lululemon Athletica by 1.9% in the first quarter. Penserra Capital Management LLC now owns 4,600 shares of the apparel retailer’s stock worth $238,000 after acquiring an additional 84 shares in the last quarter. Institutional investors 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.