Lululemon Athletica (NASDAQ:LULU) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
LULU has been the topic of several other research reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Lululemon Athletica in a research note on Thursday, November 2nd. Zacks Investment Research cut shares of Lululemon Athletica from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Canaccord Genuity set a $43.00 price objective on shares of Lululemon Athletica and gave the stock a “sell” rating in a research note on Tuesday, December 5th. Needham & Company LLC set a $69.00 price objective on shares of Lululemon Athletica and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, KeyCorp reissued a “hold” rating on shares of Lululemon Athletica in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $73.95.
Shares of Lululemon Athletica (NASDAQ LULU) traded up $0.48 on Thursday, hitting $77.15. 2,674,196 shares of the stock traded hands, compared to its average volume of 1,600,000. The firm has a market cap of $10,440.00, a PE ratio of 38.38, a P/E/G ratio of 1.98 and a beta of 0.26. Lululemon Athletica has a 12 month low of $47.26 and a 12 month high of $83.31.
Lululemon Athletica announced that its Board of Directors has initiated a stock buyback plan on Wednesday, December 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC increased its holdings 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 buying an additional 1,182 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Lululemon Athletica by 702.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock valued at $120,000 after purchasing an additional 1,335 shares in the last quarter. Zions Bancorporation boosted its stake 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 purchasing an additional 1,356 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Lululemon Athletica in the 3rd quarter valued at $156,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Lululemon Athletica in the 4th quarter valued at $171,000. 79.70% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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