Analysts predict that Lululemon Athletica inc. (NASDAQ:LULU) will report sales of $913.06 million for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Lululemon Athletica’s earnings, with the lowest sales estimate coming in at $907.40 million and the highest estimate coming in at $919.10 million. Lululemon Athletica reported sales of $789.94 million during the same quarter last year, which indicates a positive year over year growth rate of 15.6%. The firm is scheduled to issue its next earnings results on Wednesday, April 4th.
On average, analysts expect that Lululemon Athletica will report full-year sales of $913.06 million for the current year, with estimates ranging from $2.60 billion to $2.64 billion. For the next year, analysts forecast that the business will post sales of $2.95 billion per share, with estimates ranging from $2.84 billion to $3.07 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Lululemon Athletica.
Several research firms have recently weighed in on LULU. Credit Suisse Group began coverage on shares of Lululemon Athletica in a report on Monday. They set an “outperform” rating and a $96.00 target price for the company. Zacks Investment Research lowered shares of Lululemon Athletica from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. BidaskClub lowered shares of Lululemon Athletica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Oppenheimer reaffirmed an “outperform” rating and set a $88.00 target price on shares of Lululemon Athletica in a report on Tuesday, February 6th. Finally, Canaccord Genuity set a $75.00 target price on shares of Lululemon Athletica and gave the company a “hold” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $75.03.
Lululemon Athletica announced that its board has initiated a share buyback program on Wednesday, December 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, major shareholder Dennis J. Wilson sold 722,134 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $77.47, for a total transaction of $55,943,720.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in LULU. Canada Pension Plan Investment Board grew its holdings in shares of Lululemon Athletica by 304.3% during the third quarter. Canada Pension Plan Investment Board now owns 82,510 shares of the apparel retailer’s stock worth $5,136,000 after buying an additional 62,100 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Lululemon Athletica during the third quarter worth $1,034,000. Prudential Financial Inc. grew its holdings in shares of Lululemon Athletica by 734.3% during the third quarter. Prudential Financial Inc. now owns 392,118 shares of the apparel retailer’s stock worth $24,410,000 after buying an additional 345,120 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Lululemon Athletica by 7.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 15,390 shares of the apparel retailer’s stock worth $958,000 after buying an additional 1,075 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Lululemon Athletica by 9.8% during the third quarter. Principal Financial Group Inc. now owns 162,313 shares of the apparel retailer’s stock worth $10,104,000 after buying an additional 14,533 shares in the last quarter. 80.18% of the stock is owned by institutional investors and hedge funds.
About Lululemon Athletica
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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