Canaccord Genuity Reiterates “$75.00” Price Target for Lululemon Athletica (LULU)

Lululemon Athletica (NASDAQ:LULU) has been given a $75.00 price target by investment analysts at Canaccord Genuity in a report released on Tuesday. The brokerage currently has a “hold” rating on the apparel retailer’s stock. Canaccord Genuity’s price objective would suggest a potential downside of 3.36% from the stock’s current price.

A number of other equities analysts also recently weighed in on LULU. Oppenheimer reaffirmed an “outperform” rating and issued a $68.00 price target on shares of Lululemon Athletica in a research note on Tuesday, October 10th. Needham & Company LLC set a $69.00 price target on shares of Lululemon Athletica and gave the stock a “buy” rating in a research note on Monday, October 16th. SunTrust Banks set a $69.00 price objective on shares of Lululemon Athletica and gave the stock a “buy” rating in a report on Monday, October 16th. Citigroup upgraded shares of Lululemon Athletica from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $61.50 to $60.09 in a report on Friday, October 20th. Finally, KeyCorp reiterated a “hold” rating on shares of Lululemon Athletica in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.59.

Lululemon Athletica (LULU) traded up $0.20 during midday trading on Tuesday, hitting $77.61. 2,142,395 shares of the stock were exchanged, compared to its average volume of 1,368,109. 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 $10,560.00, a P/E ratio of 38.65, a PEG ratio of 2.03 and a beta of 0.26.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.04. Lululemon Athletica had a net margin of 10.96% and a return on equity of 22.52%. The business had revenue of $619.00 million for the quarter, compared to the consensus estimate of $610.56 million. During the same period in the prior year, the business posted $0.50 earnings per share. Lululemon Athletica’s revenue for the quarter was up 13.7% compared to the same quarter last year. equities analysts expect that Lululemon Athletica will post 2.53 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has initiated a share repurchase 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 purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

A number of hedge funds have recently made changes to their positions in LULU. Korea Investment CORP grew its stake in Lululemon Athletica by 12.5% in the third quarter. Korea Investment CORP now owns 410,800 shares of the apparel retailer’s stock valued at $25,572,000 after purchasing an additional 45,600 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Lululemon Athletica by 10.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 314,404 shares of the apparel retailer’s stock worth $18,760,000 after purchasing an additional 29,880 shares during the period. ETRADE Capital Management LLC purchased a new position in shares of Lululemon Athletica in the 3rd quarter valued at about $252,000. APG Asset Management N.V. increased its holdings in shares of Lululemon Athletica by 6.2% in the 3rd quarter. APG Asset Management N.V. now owns 177,188 shares of the apparel retailer’s stock valued at $11,030,000 after acquiring an additional 10,300 shares during the last quarter. Finally, First Midwest Bank Trust Division purchased a new position in shares of Lululemon Athletica in the 3rd quarter valued at about $1,208,000. 79.70% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)