Lululemon Athletica (NASDAQ:LULU) has been given a $79.00 target price by research analysts at Wells Fargo & Co in a report issued on Thursday. The firm presently has a “hold” rating on the apparel retailer’s stock. Wells Fargo & Co’s target price would indicate a potential upside of 0.43% from the stock’s previous close.
Several other equities research analysts also recently issued reports on LULU. Needham & Company LLC set a $69.00 price objective on shares of Lululemon Athletica and gave the stock a “buy” rating in a research note on Monday, October 16th. Citigroup boosted their price objective on shares of Lululemon Athletica to $78.00 and gave the stock a “buy” rating in a research note on Thursday, December 7th. Royal Bank of Canada restated a “buy” rating and set a $77.00 price objective on shares of Lululemon Athletica in a research report on Friday, December 8th. Stifel Nicolaus raised their price objective on shares of Lululemon Athletica from $66.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. Finally, B. Riley raised their price objective on shares of Lululemon Athletica from $55.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $72.95.
Shares of Lululemon Athletica (LULU) traded down $0.20 during mid-day trading on Thursday, reaching $78.66. 285,822 shares of the company traded hands, compared to its average volume of 2,110,000. Lululemon Athletica has a 1 year low of $47.26 and a 1 year high of $81.92. The firm has a market capitalization of $10,650.00, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 2.51 and a beta of 0.19.
Lululemon Athletica announced that its board has initiated a share repurchase program on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Manning & Napier Advisors raised its position in Lululemon Athletica by 8.6% during the fourth quarter. Manning & Napier Advisors now owns 9,212,577 shares of the apparel retailer’s stock valued at $483,383,000 after acquiring an additional 729,689 shares in the last quarter. Vanguard Group Inc. raised its position in Lululemon Athletica by 3.1% during the second quarter. Vanguard Group Inc. now owns 7,850,066 shares of the apparel retailer’s stock valued at $468,413,000 after acquiring an additional 233,035 shares in the last quarter. Lone Pine Capital LLC raised its position in Lululemon Athletica by 42.9% during the second quarter. Lone Pine Capital LLC now owns 7,410,304 shares of the apparel retailer’s stock valued at $547,325,000 after acquiring an additional 2,224,220 shares in the last quarter. Jennison Associates LLC raised its position in Lululemon Athletica by 761.4% during the second quarter. Jennison Associates LLC now owns 6,234,712 shares of the apparel retailer’s stock valued at $460,496,000 after acquiring an additional 5,510,939 shares in the last quarter. Finally, BlackRock Inc. raised its position in Lululemon Athletica by 4.4% during the second quarter. BlackRock Inc. now owns 5,373,376 shares of the apparel retailer’s stock valued at $320,629,000 after acquiring an additional 228,068 shares in the last quarter. 79.31% of the stock is owned by institutional investors and hedge funds.
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.
