Equities research analysts expect that Lululemon Athletica inc. (NASDAQ:LULU) will report sales of $913.06 million for the current quarter, Zacks reports. Ten analysts have made estimates for Lululemon Athletica’s earnings. The highest sales estimate is $919.10 million and the lowest is $907.40 million. Lululemon Athletica posted sales of $789.94 million in the same quarter last year, which suggests a positive year over year growth rate of 15.6%. The firm is expected to report its next earnings report on Wednesday, April 4th.
According to Zacks, analysts expect that Lululemon Athletica will report full year sales of $913.06 million for the current fiscal year, with estimates ranging from $2.60 billion to $2.64 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.95 billion per share, with estimates ranging from $2.84 billion to $3.07 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Lululemon Athletica.
A number of research firms have weighed in on LULU. BidaskClub lowered shares of Lululemon Athletica from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research lowered shares of Lululemon Athletica from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Credit Suisse Group began coverage on shares of Lululemon Athletica in a research report on Monday. They issued an “outperform” rating and a $96.00 price target for the company. SunTrust Banks upped their price target on shares of Lululemon Athletica from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Finally, BMO Capital Markets upped their price target on shares of Lululemon Athletica to $64.00 and gave the stock a “market perform” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $75.03.
Lululemon Athletica announced that its board has initiated a share buyback plan on Wednesday, December 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, major shareholder Dennis J. Wilson sold 722,134 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $77.47, for a total transaction of $55,943,720.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in LULU. Millennium Management LLC raised its stake in Lululemon Athletica by 340.6% during the fourth quarter. Millennium Management LLC now owns 855,796 shares of the apparel retailer’s stock valued at $67,257,000 after purchasing an additional 661,547 shares in the last quarter. Jennison Associates LLC purchased a new stake in Lululemon Athletica during the third quarter valued at $37,996,000. Bank of New York Mellon Corp raised its stake in Lululemon Athletica by 132.6% during the third 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 purchasing an additional 578,248 shares in the last quarter. Alliancebernstein L.P. raised its stake in Lululemon Athletica by 311.5% during the fourth quarter. Alliancebernstein L.P. now owns 691,777 shares of the apparel retailer’s stock valued at $54,367,000 after purchasing an additional 523,653 shares in the last quarter. Finally, Element Capital Management LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at $29,521,000. 80.18% of the stock is currently owned by 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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