Lululemon Athletica (NASDAQ:LULU) had its price target lifted by Credit Suisse Group from $190.00 to $195.00 in a research note published on Thursday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the apparel retailer’s stock.
Several other equities analysts have also recently weighed in on the company. Buckingham Research upgraded Lululemon Athletica from a neutral rating to a buy rating in a research note on Wednesday, January 9th. MKM Partners raised their price objective on Lululemon Athletica from $177.00 to $179.00 and gave the company a buy rating in a research note on Wednesday, January 16th. Stifel Nicolaus raised their price objective on Lululemon Athletica from $152.00 to $187.00 and gave the company a buy rating in a research note on Thursday, March 28th. Canaccord Genuity restated a buy rating and set a $186.00 price objective (up from $163.00) on shares of Lululemon Athletica in a research note on Thursday, March 28th. Finally, BidaskClub cut Lululemon Athletica from a strong-buy rating to a buy rating in a research note on Saturday, February 2nd. Ten research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $173.77.
Shares of LULU stock opened at $177.09 on Thursday. Lululemon Athletica has a 52 week low of $95.39 and a 52 week high of $179.49. The company has a market cap of $23.19 billion, a PE ratio of 46.12, a P/E/G ratio of 2.07 and a beta of 0.52.
Lululemon Athletica announced that its board has approved a share buyback program on Wednesday, March 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, EVP Celeste Burgoyne sold 19,199 shares of the business’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $166.54, for a total value of $3,197,401.46. Following the sale, the executive vice president now directly owns 18,019 shares in the company, valued at approximately $3,000,884.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle Sun Choe sold 6,170 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $170.92, for a total value of $1,054,576.40. Following the completion of the sale, the insider now owns 11,294 shares in the company, valued at $1,930,370.48. The disclosure for this sale can be found here. Insiders have sold a total of 1,898,344 shares of company stock worth $279,828,942 over the last quarter. Company insiders own 0.32% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. AdvisorNet Financial Inc raised its stake in Lululemon Athletica by 70.8% in the 4th quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 85 shares during the period. Semmax Financial Advisors Inc. bought a new stake in Lululemon Athletica in the 4th quarter valued at about $25,000. Oregon Public Employees Retirement Fund raised its stake in 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 acquiring an additional 4,023,801 shares during the period. PRW Wealth Management LLC bought a new stake in Lululemon Athletica in the 4th quarter valued at about $34,000. Finally, Exane Derivatives raised its stake in Lululemon Athletica by 32,600.0% in the 4th quarter. Exane Derivatives now owns 327 shares of the apparel retailer’s stock valued at $40,000 after acquiring an additional 326 shares during the period. Institutional investors and hedge funds 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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