Lululemon Athletica (LULU) Given New $160.00 Price Target at Morgan Stanley

Lululemon Athletica (NASDAQ:LULU) had its price target lifted by Morgan Stanley from $150.00 to $160.00 in a report released on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the apparel retailer’s stock.

Other analysts also recently issued research reports about the stock. Buckingham Research raised shares of Lululemon Athletica from a neutral rating to a buy rating in a report on Wednesday, January 9th. MKM Partners lifted their target price on shares of Lululemon Athletica from $177.00 to $179.00 and gave the stock a buy rating in a report on Wednesday, January 16th. Stifel Nicolaus lifted their target price on shares of Lululemon Athletica from $152.00 to $187.00 and gave the stock a buy rating in a report on Thursday, March 28th. Canaccord Genuity reaffirmed a buy rating and set a $186.00 target price (up previously from $163.00) on shares of Lululemon Athletica in a report on Thursday, March 28th. Finally, BidaskClub downgraded shares of Lululemon Athletica from a strong-buy rating to a buy rating in a report on Saturday, February 2nd. Ten research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Lululemon Athletica presently has an average rating of Buy and an average target price of $173.77.

Shares of LULU traded down $0.20 during midday trading on Thursday, reaching $177.09. The stock had a trading volume of 1,522,163 shares, compared to its average volume of 2,258,960. Lululemon Athletica has a one year low of $95.39 and a one year high of $179.49. The company has a market cap of $23.19 billion, a PE ratio of 46.12, a price-to-earnings-growth ratio of 2.07 and a beta of 0.52.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Wednesday, March 27th. The apparel retailer reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. Lululemon Athletica had a net margin of 14.71% and a return on equity of 35.49%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 EPS. As a group, analysts expect that Lululemon Athletica will post 4.71 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the apparel retailer to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

In other news, COO Stuart Haselden sold 49,319 shares of the business’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $164.62, for a total value of $8,118,893.78. Following the completion of the transaction, the chief operating officer now directly owns 24,685 shares in the company, valued at approximately $4,063,644.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michelle Sun Choe sold 6,170 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $170.92, for a total transaction of $1,054,576.40. Following the completion of the transaction, the insider now owns 11,294 shares of the company’s stock, valued at $1,930,370.48. The disclosure for this sale can be found here. Insiders sold a total of 2,142,883 shares of company stock valued at $316,468,220 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Several large investors have recently modified their holdings of LULU. Oregon Public Employees Retirement Fund raised its position in shares of Lululemon Athletica by 11,283.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 4,023,801 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at approximately $314,834,000. Norges Bank acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at approximately $161,284,000. Vanguard Group Inc raised its position in shares of Lululemon Athletica by 10.6% in the 3rd quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock valued at $1,529,244,000 after buying an additional 899,080 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Lululemon Athletica by 10.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,411,318 shares of the apparel retailer’s stock valued at $1,529,244,000 after buying an additional 899,080 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

Lululemon Athletica Company Profile

lululemon athletica inc., 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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Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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