Lululemon Athletica inc. (NASDAQ:LULU) – Stock analysts at DA Davidson lifted their Q2 2020 earnings per share estimates for shares of Lululemon Athletica in a research report issued to clients and investors on Thursday, June 13th. DA Davidson analyst J. Morris now expects that the apparel retailer will post earnings of $0.91 per share for the quarter, up from their previous estimate of $0.88. DA Davidson has a “Neutral” rating and a $180.00 price objective on the stock. DA Davidson also issued estimates for Lululemon Athletica’s Q3 2020 earnings at $0.93 EPS, Q4 2020 earnings at $2.20 EPS, FY2020 earnings at $4.77 EPS, Q1 2021 earnings at $0.87 EPS, Q2 2021 earnings at $1.09 EPS, Q3 2021 earnings at $1.11 EPS, Q4 2021 earnings at $2.58 EPS and FY2021 earnings at $5.64 EPS.
Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The business had revenue of $782.30 million for the quarter, compared to analyst estimates of $755.92 million. Lululemon Athletica had a return on equity of 38.60% and a net margin of 14.77%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS.
A number of other research analysts also recently commented on the company. Royal Bank of Canada upped their price objective on Lululemon Athletica to $200.00 and gave the stock an “outperform” rating in a research note on Thursday. MKM Partners increased their price target on Lululemon Athletica from $189.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity increased their price target on Lululemon Athletica from $191.00 to $194.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group cut Lululemon Athletica to a “hold” rating and increased their price target for the stock from $156.00 to $175.00 in a research note on Thursday. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $205.00 price target (up previously from $200.00) on shares of Lululemon Athletica in a research note on Thursday. Eleven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $187.07.
Shares of LULU opened at $174.52 on Friday. The firm has a market cap of $22.38 billion, a P/E ratio of 45.45, a P/E/G ratio of 2.02 and a beta of 0.60. Lululemon Athletica has a 12 month low of $110.71 and a 12 month high of $182.89.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in Lululemon Athletica by 0.5% during the first quarter. FMR LLC now owns 18,492,021 shares of the apparel retailer’s stock valued at $3,030,287,000 after buying an additional 97,885 shares in the last quarter. Vanguard Group Inc boosted its stake in Lululemon Athletica by 10.6% during the third quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock valued at $1,529,244,000 after buying an additional 899,080 shares in the last quarter. Jennison Associates LLC boosted its stake in Lululemon Athletica by 144.2% during the first quarter. Jennison Associates LLC now owns 6,321,172 shares of the apparel retailer’s stock valued at $1,035,850,000 after buying an additional 3,732,291 shares in the last quarter. BlackRock Inc. boosted its stake in Lululemon Athletica by 6.3% during the first quarter. BlackRock Inc. now owns 5,896,520 shares of the apparel retailer’s stock valued at $966,262,000 after buying an additional 350,808 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Lululemon Athletica by 11,283.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 4,023,801 shares in the last quarter. 80.78% of the stock is owned by institutional investors and hedge funds.
In related news, Director Dennis J. Wilson sold 155,800 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $144.43, for a total transaction of $22,502,194.00. Following the completion of the transaction, the director now owns 3,852 shares of the company’s stock, valued at $556,344.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stuart Haselden sold 49,319 shares of the firm’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $164.62, for a total value of $8,118,893.78. Following the transaction, the chief operating officer now directly owns 24,685 shares of the company’s stock, valued at approximately $4,063,644.70. The disclosure for this sale can be found here. Insiders have sold 519,344 shares of company stock valued at $79,873,942 in the last ninety days. Company insiders own 0.32% of the company’s stock.
Lululemon Athletica declared that its Board of Directors has authorized a stock buyback plan on Wednesday, March 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the apparel retailer to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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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