Argus upgraded shares of Lululemon Athletica (NASDAQ:LULU) from a hold rating to a buy rating in a research report released on Thursday morning, Marketbeat.com reports. The firm currently has $150.00 price objective on the apparel retailer’s stock.
A number of other analysts have also recently issued reports on the company. ValuEngine cut Lululemon Athletica from a strong-buy rating to a buy rating in a research report on Wednesday, June 13th. Stifel Nicolaus upped their target price on Lululemon Athletica from $111.00 to $113.00 and gave the company a hold rating in a research report on Friday, June 8th. Robert W. Baird upped their target price on Lululemon Athletica from $125.00 to $140.00 and gave the company an outperform rating in a research report on Friday, June 8th. Bank of America upped their target price on Lululemon Athletica from $121.00 to $140.00 and gave the company a buy rating in a research report on Friday, July 6th. Finally, Zacks Investment Research cut Lululemon Athletica from a buy rating to a hold rating in a research report on Friday, August 3rd. Eighteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $109.17.
LULU opened at $130.19 on Thursday. Lululemon Athletica has a one year low of $56.56 and a one year high of $131.88. The stock has a market capitalization of $17.71 billion, a PE ratio of 50.27, a price-to-earnings-growth ratio of 2.58 and a beta of -0.03.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, May 31st. The apparel retailer reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09. Lululemon Athletica had a return on equity of 25.46% and a net margin of 10.89%. The business had revenue of $649.70 million for the quarter, compared to the consensus estimate of $616.69 million. During the same quarter in the prior year, the business posted $0.32 EPS. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. sell-side analysts forecast that Lululemon Athletica will post 3.22 earnings per share for the current year.
In other Lululemon Athletica news, Director David M. Mussafer sold 17,935 shares of the stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $121.00, for a total transaction of $2,170,135.00. Following the completion of the sale, the director now directly owns 18,202 shares of the company’s stock, valued at approximately $2,202,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder International Corp/Ma Advent sold 10,000,000 shares of the stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $121.00, for a total value of $1,210,000,000.00. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Northwest Wealth Management LLC acquired a new stake in shares of Lululemon Athletica in the 2nd quarter valued at approximately $125,000. Synovus Financial Corp acquired a new stake in shares of Lululemon Athletica in the 2nd quarter valued at approximately $127,000. Private Capital Group LLC lifted its holdings in shares of Lululemon Athletica by 103.3% in the 1st quarter. Private Capital Group LLC now owns 1,222 shares of the apparel retailer’s stock valued at $109,000 after buying an additional 621 shares during the period. Smithfield Trust Co. lifted its holdings in shares of Lululemon Athletica by 247.8% in the 2nd quarter. Smithfield Trust Co. now owns 1,287 shares of the apparel retailer’s stock valued at $160,000 after buying an additional 917 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Lululemon Athletica by 104.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,413 shares of the apparel retailer’s stock valued at $177,000 after buying an additional 722 shares during the period. 82.31% of the stock is owned by institutional investors and hedge funds.
About Lululemon Athletica
lululemon athletica inc., an athletic apparel company, 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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