Lululemon Athletica (NASDAQ:LULU) had its price target raised by research analysts at Deutsche Bank from $89.00 to $95.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the apparel retailer’s stock. Deutsche Bank’s price objective suggests a potential upside of 19.21% from the stock’s current price.
A number of other research analysts have also issued reports on the company. Zacks Investment Research raised Lululemon Athletica from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Monday, September 18th. Robert W. Baird reissued a “buy” rating and issued a $72.00 target price on shares of Lululemon Athletica in a report on Wednesday, October 4th. Needham & Company LLC set a $69.00 target price on Lululemon Athletica and gave the company a “buy” rating in a report on Monday, October 16th. SunTrust Banks set a $69.00 target price on Lululemon Athletica and gave the company a “buy” rating in a report on Monday, October 16th. Finally, Citigroup raised Lululemon Athletica from a “neutral” rating to a “buy” rating and dropped their target price for the company from $61.50 to $60.09 in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.28.
Lululemon Athletica (NASDAQ LULU) opened at $79.69 on Wednesday. The company has a market capitalization of $10,790.00, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 2.48 and a beta of 0.19. Lululemon Athletica has a 12-month low of $47.26 and a 12-month high of $80.27.
Lululemon Athletica announced that its board has authorized a share buyback plan on Wednesday, December 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Several institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its position in Lululemon Athletica by 16,053.2% during the second quarter. Janus Henderson Group PLC now owns 2,614,550 shares of the apparel retailer’s stock worth $156,010,000 after purchasing an additional 2,598,364 shares in the last quarter. Eaton Vance Management purchased a new stake in Lululemon Athletica during the second quarter worth $126,967,000. Lazard Asset Management LLC purchased a new stake in Lululemon Athletica during the second quarter worth $94,181,000. HS Management Partners LLC boosted its position in Lululemon Athletica by 36.4% during the second quarter. HS Management Partners LLC now owns 2,775,486 shares of the apparel retailer’s stock worth $165,613,000 after purchasing an additional 741,200 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Lululemon Athletica by 145.9% during the second quarter. TIAA CREF Investment Management LLC now owns 1,153,948 shares of the apparel retailer’s stock worth $68,856,000 after purchasing an additional 684,667 shares in the last quarter. Hedge funds and other institutional investors own 79.31% of the company’s stock.
Lululemon Athletica Company Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
