Canaccord Genuity Analysts Give Lululemon Athletica (LULU) a $75.00 Price Target

Canaccord Genuity set a $75.00 target price on Lululemon Athletica (NASDAQ:LULU) in a research note released on Tuesday morning. The brokerage currently has a hold rating on the apparel retailer’s stock.

Other equities analysts also recently issued reports about the stock. Cowen reissued a buy rating and issued a $78.00 price target (up from $68.00) on shares of Lululemon Athletica in a research note on Thursday, December 7th. Needham & Company LLC reaffirmed a buy rating and set a $71.00 target price (up from $69.00) on shares of Lululemon Athletica in a research note on Friday, December 1st. Citigroup raised shares of Lululemon Athletica from a neutral rating to a buy rating and reduced their target price for the stock from $61.50 to $60.09 in a research note on Friday, October 20th. SunTrust Banks set a $69.00 target price on shares of Lululemon Athletica and gave the stock a buy rating in a research note on Monday, October 16th. Finally, Susquehanna Bancshares reaffirmed a buy rating and set a $85.00 target price (up from $71.00) on shares of Lululemon Athletica in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Lululemon Athletica has a consensus rating of Buy and a consensus target price of $73.95.

Lululemon Athletica (NASDAQ:LULU) opened at $77.15 on Tuesday. The firm has a market cap of $10,440.00, a PE ratio of 38.38, a PEG ratio of 2.08 and a beta of 0.26. Lululemon Athletica has a 52 week low of $47.26 and a 52 week high of $83.31.

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 Thomson Reuters’ consensus estimate of $0.52 by $0.04. The firm had revenue of $619.00 million for the quarter, compared to the consensus estimate of $610.56 million. Lululemon Athletica had a net margin of 10.96% and a return on equity of 22.52%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. analysts anticipate that Lululemon Athletica will post 2.53 EPS for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in LULU. IHT Wealth Management LLC grew its holdings in shares of Lululemon Athletica by 591.0% in the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after purchasing an additional 1,182 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Lululemon Athletica by 702.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock valued at $120,000 after purchasing an additional 1,335 shares in the last quarter. Zions Bancorporation grew its holdings in shares of Lululemon Athletica by 183.2% in the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after purchasing an additional 1,356 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Lululemon Athletica in the third quarter valued at approximately $156,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Lululemon Athletica in the fourth quarter valued at approximately $171,000. Institutional investors and hedge funds own 79.70% of the company’s stock.

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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.

Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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