Lululemon Athletica inc. (NASDAQ:LULU) shares reached a new 52-week high during mid-day trading on Monday after BidaskClub upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $134.75 and last traded at $137.07, with a volume of 62719 shares changing hands. The stock had previously closed at $131.99.
A number of other analysts have also commented on LULU. Bank of America restated a “buy” rating and issued a $106.00 price target on shares of Lululemon Athletica in a report on Tuesday, April 24th. Wedbush initiated coverage on Lululemon Athletica in a report on Thursday, May 10th. They issued a “neutral” rating and a $90.00 price target on the stock. They noted that the move was a valuation call. ValuEngine upgraded Lululemon Athletica from a “hold” rating to a “buy” rating in a report on Monday, May 14th. SunTrust Banks boosted their price target on Lululemon Athletica from $47.00 to $114.00 and gave the company a “buy” rating in a report on Monday, May 21st. They noted that the move was a valuation call. Finally, Stifel Nicolaus boosted their price target on Lululemon Athletica from $81.00 to $97.00 and gave the company a “hold” rating in a report on Tuesday, May 22nd. Seventeen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $111.91.
In related news, Director David M. Mussafer sold 17,935 shares of the company’s stock in a transaction dated 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 sale, the director now owns 18,202 shares in the company, valued at $2,202,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder International Corp/Ma Advent sold 10,000,000 shares of the company’s stock in a transaction dated 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. Corporate insiders own 0.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd increased its position in Lululemon Athletica by 61.7% during the second quarter. WINTON GROUP Ltd now owns 4,625 shares of the apparel retailer’s stock worth $577,000 after buying an additional 1,765 shares during the last quarter. Andra AP fonden acquired a new position in Lululemon Athletica during the second quarter worth approximately $8,964,000. M Holdings Securities Inc. acquired a new position in Lululemon Athletica during the second quarter worth approximately $361,000. Schroder Investment Management Group acquired a new position in Lululemon Athletica during the second quarter worth approximately $1,417,000. Finally, Global X Management Co LLC increased its position in Lululemon Athletica by 34.7% during the second quarter. Global X Management Co LLC now owns 6,290 shares of the apparel retailer’s stock worth $785,000 after buying an additional 1,621 shares during the last quarter. 84.72% of the stock is currently owned by hedge funds and other institutional investors.
The stock has a market capitalization of $17.67 billion, a price-to-earnings ratio of 52.36, a P/E/G ratio of 2.56 and a beta of -0.03.
Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, May 31st. The apparel retailer reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.09. The firm had revenue of $649.70 million for the quarter, compared to the consensus estimate of $616.69 million. Lululemon Athletica had a return on equity of 25.46% and a net margin of 10.89%. The business’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 earnings per share. sell-side analysts forecast that Lululemon Athletica inc. will post 3.22 EPS for the current year.
Lululemon Athletica Company Profile (NASDAQ:LULU)
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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