Lululemon Athletica (NASDAQ:LULU)‘s stock had its “buy” rating reaffirmed by analysts at Cowen in a research note issued on Thursday.

Several other research analysts have also recently issued reports on LULU. Canaccord Genuity reissued a “sell” rating and issued a $43.00 price objective on shares of Lululemon Athletica in a research note on Friday, September 22nd. Zacks Investment Research cut Lululemon Athletica from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Robert W. Baird reissued a “buy” rating and issued a $72.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, October 4th. Oppenheimer reissued an “outperform” rating and issued a $68.00 price objective on shares of Lululemon Athletica in a research note on Tuesday, October 10th. Finally, Needham & Company LLC set a $69.00 price objective on Lululemon Athletica and gave the stock a “buy” rating in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $72.95.

Lululemon Athletica (LULU) traded down $0.35 on Thursday, hitting $77.57. The stock had a trading volume of 1,130,858 shares, compared to its average volume of 1,599,750. The company has a market capitalization of $10,500.00, a PE ratio of 38.59, a price-to-earnings-growth ratio of 2.36 and a beta of 0.19. Lululemon Athletica has a 1 year low of $47.26 and a 1 year high of $81.92.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. research analysts expect that Lululemon Athletica will post 2.52 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has initiated a stock repurchase plan on Wednesday, December 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Lululemon Athletica by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 7,850,066 shares of the apparel retailer’s stock valued at $468,413,000 after acquiring an additional 233,035 shares during the period. BlackRock Inc. increased its position in shares of Lululemon Athletica by 4.4% in the 2nd quarter. BlackRock Inc. now owns 5,373,376 shares of the apparel retailer’s stock valued at $320,629,000 after acquiring an additional 228,068 shares during the period. Janus Henderson Group PLC increased its position in shares of Lululemon Athletica by 16,053.2% in the 2nd quarter. Janus Henderson Group PLC now owns 2,614,550 shares of the apparel retailer’s stock valued at $156,010,000 after acquiring an additional 2,598,364 shares during the period. State Street Corp increased its position in shares of Lululemon Athletica by 0.8% in the 2nd quarter. State Street Corp now owns 2,113,129 shares of the apparel retailer’s stock valued at $126,101,000 after acquiring an additional 16,821 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Lululemon Athletica by 132.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,014,384 shares of the apparel retailer’s stock valued at $63,146,000 after acquiring an additional 578,248 shares during the period. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was published by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another site, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/01/18/lululemon-athleticas-lulu-buy-rating-reaffirmed-at-cowen.html.

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.

Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

Receive News & Ratings for Lululemon Athletica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica and related companies with MarketBeat.com's FREE daily email newsletter.