lululemon athletica inc. (NASDAQ:LULU) – Analysts at William Blair lifted their FY2019 earnings per share estimates for lululemon athletica in a report issued on Thursday. William Blair analyst S. Zackfia now forecasts that the apparel retailer will earn $2.81 per share for the year, up from their previous forecast of $2.74.
Several other equities analysts have also recently weighed in on the company. Canaccord Genuity set a $41.00 price objective on lululemon athletica and gave the company a “sell” rating in a report on Tuesday, August 29th. Vetr upgraded lululemon athletica from a “buy” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, August 30th. Cowen reiterated a “buy” rating and issued a $68.00 price target on shares of lululemon athletica in a research note on Friday, November 3rd. Nomura reiterated a “buy” rating and issued a $67.00 price target (up previously from $65.00) on shares of lululemon athletica in a research note on Friday, September 1st. Finally, Citigroup upgraded lululemon athletica from a “neutral” rating to a “buy” rating and decreased their price target for the company from $61.50 to $60.09 in a research note on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. lululemon athletica presently has a consensus rating of “Hold” and an average target price of $70.21.
lululemon athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. The business had revenue of $619.00 million during the quarter, compared to analysts’ expectations of $610.56 million. lululemon athletica had a return on equity of 22.52% and a net margin of 10.96%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $0.50 EPS.
lululemon athletica announced that its Board of Directors has approved a share repurchase program on Wednesday, December 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the apparel retailer to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
A number of hedge funds have recently bought and sold shares of LULU. Dimensional Fund Advisors LP raised its stake in lululemon athletica by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 284,524 shares of the apparel retailer’s stock worth $14,755,000 after buying an additional 6,448 shares during the period. Russell Investments Group Ltd. increased its holdings in lululemon athletica by 77.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 190,439 shares of the apparel retailer’s stock worth $11,363,000 after purchasing an additional 83,300 shares in the last quarter. CIBC Asset Management Inc bought a new stake in lululemon athletica during the 2nd quarter worth approximately $291,000. State of New Jersey Common Pension Fund D increased its holdings in lululemon athletica by 11.4% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 49,000 shares of the apparel retailer’s stock worth $2,924,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in lululemon athletica by 132.0% during the 2nd quarter. Sei Investments Co. now owns 21,109 shares of the apparel retailer’s stock worth $1,260,000 after purchasing an additional 12,010 shares in the last quarter. 79.45% of the stock is currently owned by institutional investors and hedge funds.
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lululemon athletica Company Profile
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.
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