Lululemon Athletica (NASDAQ:LULU)‘s stock had its “buy” rating reissued by investment analysts at Guggenheim in a note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $200.00 price target on the apparel retailer’s stock. Guggenheim’s price objective points to a potential upside of 17.03% from the company’s previous close.
The analysts wrote, “We believe the results demonstrate continued momentum in the business globally. LULU continues to drive outsized results across its portfolio, and we are encouraged by the continued momentum on top of quite challenging YoY comparisons (+35% 2-year CC comp). Given our belief LULU should drive continued top-line strength, with the brand pursuing a significant global opportunity, we remain $200 PT.””
LULU has been the subject of several other research reports. Nomura restated a “neutral” rating and issued a $157.00 target price (up previously from $140.00) on shares of Lululemon Athletica in a research note on Tuesday, February 19th. They noted that the move was a valuation call. BidaskClub downgraded Lululemon Athletica from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Wedbush downgraded Lululemon Athletica from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $176.00 to $155.00 in a research report on Friday, March 22nd. Credit Suisse Group lifted their price target on Lululemon Athletica from $172.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, DA Davidson lifted their price target on Lululemon Athletica from $146.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, March 28th. Eleven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Lululemon Athletica currently has a consensus rating of “Buy” and an average price target of $178.87.
Shares of LULU opened at $170.89 on Thursday. Lululemon Athletica has a fifty-two week low of $110.71 and a fifty-two week high of $179.49. The stock has a market capitalization of $22.47 billion, a P/E ratio of 44.50, a PEG ratio of 2.03 and a beta of 0.60.
Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. The company had revenue of $782.30 million during the quarter, compared to analyst estimates of $755.92 million. During the same quarter last year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, analysts forecast that Lululemon Athletica will post 4.6 earnings per share for the current year.
Lululemon Athletica announced that its board has authorized a share buyback program on Wednesday, March 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the apparel retailer to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Michelle Sun Choe sold 6,170 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $170.92, for a total value of $1,054,576.40. Following the completion of the sale, the insider now owns 11,294 shares in the company, valued at approximately $1,930,370.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $3,197,401.46. Following the completion of the sale, the executive vice president now owns 18,019 shares of the company’s stock, valued at approximately $3,000,884.26. The disclosure for this sale can be found here. Insiders sold a total of 519,344 shares of company stock valued at $79,873,942 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in LULU. Morgan Stanley grew its position in shares of Lululemon Athletica by 11.4% during the 3rd quarter. Morgan Stanley now owns 758,152 shares of the apparel retailer’s stock worth $123,192,000 after buying an additional 77,767 shares during the period. Vanguard Group Inc boosted its stake in Lululemon Athletica by 10.6% during the 3rd quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock worth $1,529,244,000 after acquiring an additional 899,080 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Lululemon Athletica during the 4th quarter worth approximately $134,000. Rhumbline Advisers boosted its stake in Lululemon Athletica by 2.8% during the 4th quarter. Rhumbline Advisers now owns 102,491 shares of the apparel retailer’s stock worth $12,464,000 after acquiring an additional 2,832 shares during the last quarter. Finally, TD Asset Management Inc. boosted its stake in Lululemon Athletica by 495.5% during the 4th quarter. TD Asset Management Inc. now owns 39,717 shares of the apparel retailer’s stock worth $4,830,000 after acquiring an additional 33,048 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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