Lululemon Athletica inc. (NASDAQ:LULU) – Stock analysts at Oppenheimer raised their FY2020 EPS estimates for Lululemon Athletica in a research note issued on Thursday, June 13th. Oppenheimer analyst B. Nagel now forecasts that the apparel retailer will earn $4.64 per share for the year, up from their prior forecast of $4.60. Oppenheimer has a “Outperform” rating and a $225.00 price objective on the stock. Oppenheimer also issued estimates for Lululemon Athletica’s Q4 2020 earnings at $2.12 EPS.
LULU has been the subject of several other reports. Stifel Nicolaus raised their price objective on shares of Lululemon Athletica from $152.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. MKM Partners raised their price objective on shares of Lululemon Athletica from $179.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $186.00 price objective (up from $163.00) on shares of Lululemon Athletica in a report on Thursday, March 28th. Argus raised their price objective on shares of Lululemon Athletica to $195.00 and gave the stock a “buy” rating in a report on Friday, March 29th. Finally, Bank of America raised their price objective on shares of Lululemon Athletica from $185.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Eleven research 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 stock. Lululemon Athletica has a consensus rating of “Buy” and an average price target of $187.07.
Lululemon Athletica stock opened at $174.52 on Friday. Lululemon Athletica has a twelve month low of $110.71 and a twelve month high of $182.89. The company has a market cap of $22.38 billion, a PE ratio of 45.45, a P/E/G ratio of 2.02 and a beta of 0.60.
Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. Lululemon Athletica had a net margin of 14.77% and a return on equity of 38.60%. The firm had revenue of $782.30 million during the quarter, compared to the consensus estimate of $755.92 million. During the same period in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 20.4% compared to the same quarter last year.
Lululemon Athletica announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Michelle Sun Choe sold 6,170 shares of Lululemon Athletica stock in a transaction 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 owns 11,294 shares in the company, valued at approximately $1,930,370.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dennis J. Wilson sold 288,856 shares of Lululemon Athletica stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $155.79, for a total transaction of $45,000,876.24. Following the completion of the transaction, the director now owns 3,852 shares in the company, valued at approximately $600,103.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 519,344 shares of company stock worth $79,873,942. Corporate insiders own 0.32% of the company’s stock.
Large investors have recently modified their holdings of the stock. AdvisorNet Financial Inc grew its holdings in Lululemon Athletica by 70.8% in the 4th quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 85 shares during the last quarter. Semmax Financial Advisors Inc. bought a new stake in Lululemon Athletica in the 4th quarter worth $25,000. Meridian Wealth Management LLC bought a new stake in Lululemon Athletica in the 1st quarter worth $25,000. Oregon Public Employees Retirement Fund grew its holdings in Lululemon Athletica by 11,283.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 4,023,801 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in Lululemon Athletica in the 1st quarter worth $33,000. 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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