Lululemon Athletica (NASDAQ:LULU) PT Raised to $200.00

Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by JPMorgan Chase & Co. from $197.00 to $200.00 in a research report report published on Thursday, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the apparel retailer’s stock.

Several other analysts also recently weighed in on the stock. Macquarie upgraded shares of Lululemon Athletica from an underperform rating to a neutral rating in a report on Tuesday, May 7th. BidaskClub upgraded shares of Lululemon Athletica from a sell rating to a hold rating in a report on Tuesday, April 9th. Credit Suisse Group lifted their target price on shares of Lululemon Athletica from $190.00 to $195.00 and gave the company an outperform rating in a report on Thursday, April 25th. Bank of America lifted their target price on shares of Lululemon Athletica from $185.00 to $193.00 and gave the company a buy rating in a report on Tuesday, April 23rd. Finally, Oppenheimer lifted their target price on shares of Lululemon Athletica from $190.00 to $225.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Eleven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $187.33.

Lululemon Athletica stock traded up $2.22 during trading on Thursday, hitting $176.74. The company had a trading volume of 849,498 shares, compared to its average volume of 1,887,475. Lululemon Athletica has a 1-year low of $110.71 and a 1-year high of $182.89. The company has a market capitalization of $22.38 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 2.02 and a beta of 0.60.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Lululemon Athletica had a net margin of 14.77% and a return on equity of 38.60%. The firm had revenue of $782.30 million during the quarter, compared to the consensus estimate of $755.92 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts predict that Lululemon Athletica will post 4.6 earnings per share for the current year.

Lululemon Athletica announced that its board has initiated a stock buyback program on Wednesday, March 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the apparel retailer to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

In other news, Director Dennis J. Wilson sold 288,856 shares of Lululemon Athletica stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $155.79, for a total transaction of $45,000,876.24. Following the completion of the sale, the director now directly owns 3,852 shares of the company’s stock, valued at approximately $600,103.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Celeste Burgoyne sold 19,199 shares of Lululemon Athletica stock in a transaction on Friday, March 29th. The stock was sold at an average price of $166.54, for a total transaction of $3,197,401.46. Following the sale, the executive vice president now directly owns 18,019 shares of the company’s stock, valued at $3,000,884.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 519,344 shares of company stock valued at $79,873,942. Corporate insiders own 0.32% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in Lululemon Athletica by 0.5% in the first quarter. FMR LLC now owns 18,492,021 shares of the apparel retailer’s stock valued at $3,030,287,000 after acquiring an additional 97,885 shares during the last quarter. Vanguard Group Inc lifted its position in Lululemon Athletica by 10.6% in the third quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock valued at $1,529,244,000 after acquiring an additional 899,080 shares during the last quarter. Jennison Associates LLC lifted its position in Lululemon Athletica by 144.2% in the first quarter. Jennison Associates LLC now owns 6,321,172 shares of the apparel retailer’s stock valued at $1,035,850,000 after acquiring an additional 3,732,291 shares during the last quarter. BlackRock Inc. lifted its position in Lululemon Athletica by 6.3% in the first quarter. BlackRock Inc. now owns 5,896,520 shares of the apparel retailer’s stock valued at $966,262,000 after acquiring an additional 350,808 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Lululemon Athletica by 11,283.2% in the fourth 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 last quarter. 80.78% of the stock is owned by institutional investors and hedge funds.

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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