Lululemon Athletica inc. (NASDAQ:LULU) – Stock analysts at Jefferies Financial Group lifted their Q2 2020 EPS estimates for Lululemon Athletica in a note issued to investors on Thursday, June 13th. Jefferies Financial Group analyst R. Konik now forecasts that the apparel retailer will earn $0.88 per share for the quarter, up from their prior estimate of $0.86. Jefferies Financial Group has a “Hold” rating and a $175.00 price objective on the stock. Jefferies Financial Group also issued estimates for Lululemon Athletica’s Q3 2020 earnings at $0.87 EPS, FY2020 earnings at $4.58 EPS and FY2021 earnings at $5.45 EPS.
Other equities analysts have also recently issued research reports about the stock. MKM Partners raised their price target on shares of Lululemon Athletica from $179.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. UBS Group raised their price target on shares of Lululemon Athletica from $176.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. B. Riley raised their price target on shares of Lululemon Athletica from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Guggenheim reaffirmed a “buy” rating and issued a $200.00 price target on shares of Lululemon Athletica in a research report on Thursday. Finally, Stifel Nicolaus raised their price target on shares of Lululemon Athletica from $187.00 to $209.00 and gave the company a “buy” rating in a research report on Thursday. Eleven investment 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 company. Lululemon Athletica currently has a consensus rating of “Buy” and a consensus target price of $187.07.
Shares of NASDAQ LULU opened at $174.52 on Friday. Lululemon Athletica has a fifty-two week low of $110.71 and a fifty-two week high of $182.89. The stock has a market capitalization of $22.38 billion, a P/E ratio of 45.45, a price-to-earnings-growth ratio of 2.02 and a beta of 0.60.
Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $782.30 million for the quarter, compared to analysts’ expectations of $755.92 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year.
Lululemon Athletica announced that its board has approved a share repurchase program on Wednesday, March 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
In other Lululemon Athletica news, insider Michelle Sun Choe sold 6,170 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $170.92, for a total transaction of $1,054,576.40. Following the transaction, the insider now owns 11,294 shares of the company’s stock, valued at approximately $1,930,370.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dennis J. Wilson sold 288,856 shares of Lululemon Athletica stock in a transaction that occurred 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 sale, the director now directly 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 three months, insiders have sold 519,344 shares of company stock worth $79,873,942. Insiders own 0.32% of the company’s stock.
Several large investors have recently bought and sold shares of LULU. Oregon Public Employees Retirement Fund raised its holdings in shares of 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 purchasing an additional 4,023,801 shares during the period. Jennison Associates LLC raised its holdings in shares of Lululemon Athletica by 144.2% in the 1st quarter. Jennison Associates LLC now owns 6,321,172 shares of the apparel retailer’s stock worth $1,035,850,000 after purchasing an additional 3,732,291 shares during the period. Norges Bank bought a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $161,284,000. Vanguard Group Inc raised its holdings in shares of Lululemon Athletica by 10.6% in the 3rd quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock worth $1,529,244,000 after purchasing an additional 899,080 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Lululemon Athletica in the 1st quarter worth approximately $107,056,000. 80.78% of the stock is currently owned by institutional investors.
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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