Lululemon Athletica (NASDAQ:LULU) had its target price upped by equities research analysts at DA Davidson to $180.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has a “neutral” rating on the apparel retailer’s stock. DA Davidson’s target price would suggest a potential upside of 3.14% from the stock’s previous close.
A number of other brokerages have also recently weighed in on LULU. Cowen raised their price objective on Lululemon Athletica from $190.00 to $192.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Morgan Stanley raised their price objective on Lululemon Athletica from $160.00 to $163.00 and gave the company an “equal weight” rating in a report on Thursday. Canaccord Genuity raised their price objective on Lululemon Athletica from $191.00 to $194.00 and gave the company a “buy” rating in a report on Thursday. B. Riley raised their price objective on Lululemon Athletica from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Finally, Wedbush cut Lululemon Athletica from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $176.00 to $155.00 in a report on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Lululemon Athletica presently has a consensus rating of “Buy” and an average price target of $187.07.
Shares of LULU traded up $3.63 during trading hours on Thursday, reaching $174.52. 10,747,447 shares of the company’s stock traded hands, compared to its average volume of 2,231,623. The company has a market cap of $22.47 billion, a PE ratio of 45.45, a price-to-earnings-growth ratio of 2.03 and a beta of 0.60. Lululemon Athletica has a 12 month low of $110.71 and a 12 month high of $182.89.
Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The firm had revenue of $782.30 million during the quarter, compared to the consensus estimate of $755.92 million. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS. On average, equities research analysts expect that Lululemon Athletica will post 4.6 EPS for the current year.
Lululemon Athletica declared that its board has initiated a stock buyback plan on Wednesday, March 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the apparel retailer to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other news, EVP Celeste Burgoyne sold 19,199 shares of the business’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $166.54, for a total transaction of $3,197,401.46. Following the transaction, the executive vice president now directly owns 18,019 shares of the company’s stock, valued at $3,000,884.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michelle Sun Choe sold 6,170 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $170.92, for a total value of $1,054,576.40. Following the transaction, the insider now directly owns 11,294 shares in the company, valued at $1,930,370.48. The disclosure for this sale can be found here. Insiders have sold 519,344 shares of company stock worth $79,873,942 over the last three months. Insiders own 0.32% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors Inc. lifted its holdings in Lululemon Athletica by 0.8% in the first quarter. Piedmont Investment Advisors Inc. now owns 7,001 shares of the apparel retailer’s stock valued at $1,147,000 after acquiring an additional 59 shares during the last quarter. Resources Investment Advisors Inc. increased its position in shares of Lululemon Athletica by 15.6% in the 1st quarter. Resources Investment Advisors Inc. now owns 445 shares of the apparel retailer’s stock worth $73,000 after purchasing an additional 60 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of Lululemon Athletica by 70.8% during the 4th quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 85 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Lululemon Athletica by 8.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,148 shares of the apparel retailer’s stock valued at $188,000 after buying an additional 86 shares during the last quarter. Finally, Telemus Capital LLC grew its position in shares of Lululemon Athletica by 1.2% during the 4th quarter. Telemus Capital LLC now owns 10,124 shares of the apparel retailer’s stock valued at $1,231,000 after buying an additional 119 shares during the last quarter. Institutional investors own 80.78% of the company’s stock.
About Lululemon Athletica
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.
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