Shares of Lululemon Athletica inc. (NASDAQ:LULU) have received an average rating of “Buy” from the thirty-three brokerages that are currently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $192.22.
Several analysts have recently issued reports on the company. Canaccord Genuity increased their target price on from GBX 495 ($6.47) to GBX 500 ($6.53) and gave the stock a “buy” rating in a report on Thursday, June 13th. Macquarie raised Planet Fitness from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $64.00 to $85.00 in a research note on Tuesday, May 7th. BidaskClub lowered Zynga from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. MKM Partners raised their price objective on Lululemon Athletica from $189.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Finally, JPMorgan Chase & Co. raised Scor from a “neutral” rating to an “overweight” rating in a research note on Thursday, June 13th.
In other news, Director David M. Mussafer sold 4,484 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $186.10, for a total transaction of $834,472.40. Following the completion of the transaction, the director now directly owns 18,947 shares in the company, valued at $3,526,036.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Lululemon Athletica by 16.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,799 shares of the apparel retailer’s stock worth $1,442,000 after acquiring an additional 1,259 shares during the last quarter. First Foundation Advisors bought a new position in shares of Lululemon Athletica during the fourth quarter worth about $1,216,000. Chartwell Investment Partners LLC raised its position in shares of Lululemon Athletica by 4.9% during the first quarter. Chartwell Investment Partners LLC now owns 3,269 shares of the apparel retailer’s stock worth $536,000 after acquiring an additional 153 shares during the last quarter. Belpointe Asset Management LLC raised its position in shares of Lululemon Athletica by 18.5% during the first quarter. Belpointe Asset Management LLC now owns 1,825 shares of the apparel retailer’s stock worth $299,000 after acquiring an additional 285 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Lululemon Athletica by 16.8% during the fourth quarter. Squarepoint Ops LLC now owns 572,829 shares of the apparel retailer’s stock worth $69,662,000 after acquiring an additional 82,442 shares during the last quarter. Institutional investors own 81.01% of the company’s stock.
Shares of LULU traded up $0.20 during trading hours on Friday, hitting $190.38. 958,647 shares of the company were exchanged, compared to its average volume of 2,227,378. The stock has a market capitalization of $24.64 billion, a P/E ratio of 49.27, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64. Lululemon Athletica has a fifty-two week low of $110.71 and a fifty-two week high of $191.44. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 0.39. The business’s fifty day simple moving average is $178.50.
Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $782.30 million for the quarter, compared to analyst estimates of $755.92 million. Lululemon Athletica had a return on equity of 38.77% and a net margin of 14.77%. Lululemon Athletica’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. Analysts expect that Lululemon Athletica will post 4.7 EPS for the current fiscal year.
Lululemon Athletica declared that its Board of Directors has initiated a share buyback program on Wednesday, March 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Lululemon Athletica Company Profile
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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