Lululemon Athletica (NASDAQ:LULU) had its price objective decreased by research analysts at Deutsche Bank from $95.00 to $89.00 in a report issued on Thursday. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. Deutsche Bank’s price objective suggests a potential upside of 12.05% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Monday, September 18th. Robert W. Baird restated a “buy” rating and set a $72.00 target price on shares of Lululemon Athletica in a research note on Wednesday, October 4th. SunTrust Banks set a $69.00 target price on shares of Lululemon Athletica and gave the company a “buy” rating in a research note on Monday, October 16th. Needham & Company LLC set a $69.00 target price on shares of Lululemon Athletica and gave the company a “buy” rating in a research note on Monday, October 16th. Finally, Citigroup upgraded shares of Lululemon Athletica from a “neutral” rating to a “buy” rating and lowered their target price for the company from $61.50 to $60.09 in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $71.68.
Shares of Lululemon Athletica (NASDAQ:LULU) traded down $0.42 during mid-day trading on Thursday, reaching $79.43. 1,593,080 shares of the company traded hands, compared to its average volume of 2,010,000. Lululemon Athletica has a one year low of $47.26 and a one year high of $80.46. The stock has a market cap of $10,750.00, a P/E ratio of 39.52, a price-to-earnings-growth ratio of 2.51 and a beta of 0.19.
Lululemon Athletica declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Lululemon Athletica by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,850,066 shares of the apparel retailer’s stock worth $468,413,000 after acquiring an additional 233,035 shares during the period. BlackRock Inc. raised its stake in Lululemon Athletica by 4.4% during the 2nd quarter. BlackRock Inc. now owns 5,373,376 shares of the apparel retailer’s stock worth $320,629,000 after acquiring an additional 228,068 shares during the period. HS Management Partners LLC raised its stake in Lululemon Athletica by 36.4% during the 2nd quarter. HS Management Partners LLC now owns 2,775,486 shares of the apparel retailer’s stock worth $165,613,000 after acquiring an additional 741,200 shares during the period. Janus Henderson Group PLC raised its stake in Lululemon Athletica by 16,053.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,614,550 shares of the apparel retailer’s stock worth $156,010,000 after acquiring an additional 2,598,364 shares during the period. Finally, Eaton Vance Management bought a new stake in Lululemon Athletica during the 2nd quarter worth approximately $126,967,000. Hedge funds and other institutional investors own 79.31% of the company’s stock.
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About Lululemon Athletica
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.
