Lululemon Athletica inc. (NASDAQ:LULU) – Wedbush upped their FY2020 EPS estimates for shares of Lululemon Athletica in a research note issued to investors on Thursday, June 13th. Wedbush analyst J. Redding now expects that the apparel retailer will post earnings per share of $4.66 for the year, up from their previous estimate of $4.64. Wedbush currently has a “Hold” rating and a $175.00 price target on the stock.
LULU has been the subject of a number of other reports. Nomura restated a “neutral” rating and set a $157.00 price objective (up 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 lowered shares of Lululemon Athletica from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Credit Suisse Group raised their price objective on shares of Lululemon Athletica from $172.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. DA Davidson raised their price target on shares of Lululemon Athletica from $146.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, March 28th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $186.00 price target (up previously from $163.00) on shares of Lululemon Athletica in a report on Thursday, March 28th. Eleven 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. Lululemon Athletica currently has an average rating of “Buy” and a consensus price target of $187.07.
Shares of NASDAQ LULU opened at $174.52 on Friday. Lululemon Athletica has a 12 month low of $110.71 and a 12 month high of $182.89. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 45.45, a P/E/G ratio of 2.02 and a beta of 0.60.
Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, June 12th. The apparel retailer reported $0.74 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $755.92 million. During the same period in the prior year, the business earned $0.55 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis.
Several institutional investors and hedge funds have recently bought and sold shares of LULU. AdvisorNet Financial Inc lifted its stake in Lululemon Athletica by 70.8% in the fourth 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 period. Semmax Financial Advisors Inc. acquired a new position in Lululemon Athletica in the 4th quarter worth approximately $25,000. Meridian Wealth Management LLC acquired a new position in Lululemon Athletica in the 1st quarter worth approximately $25,000. Oregon Public Employees Retirement Fund boosted its position 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 purchasing an additional 4,023,801 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Lululemon Athletica in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.
In other Lululemon Athletica news, Director Dennis J. Wilson sold 155,800 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $144.43, for a total value of $22,502,194.00. Following the completion of the transaction, the director now directly owns 3,852 shares in the company, valued at $556,344.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle Sun Choe sold 6,170 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $170.92, for a total transaction of $1,054,576.40. Following the completion of the transaction, the insider now owns 11,294 shares of the company’s stock, valued at $1,930,370.48. The disclosure for this sale can be found here. Insiders sold 519,344 shares of company stock valued at $79,873,942 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.
Lululemon Athletica declared that its Board of Directors has authorized a share repurchase plan on Wednesday, March 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board 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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