Lululemon Athletica (NASDAQ:LULU – Get Rating) was upgraded by analysts at Sanford C. Bernstein to a “hold” rating in a research report issued to clients and investors on Friday, TipRanks reports. The brokerage presently has a $300.00 price objective on the apparel retailer’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 2.26% from the stock’s current price.
A number of other research firms have also commented on LULU. Truist Financial upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and increased their price target for the stock from $390.00 to $495.00 in a research report on Tuesday, April 19th. MKM Partners increased their price objective on Lululemon Athletica from $438.00 to $447.00 in a research report on Wednesday, March 30th. Credit Suisse Group decreased their price objective on Lululemon Athletica from $450.00 to $410.00 and set an “outperform” rating on the stock in a research report on Friday, June 3rd. BMO Capital Markets decreased their price objective on Lululemon Athletica from $344.00 to $304.00 in a research report on Friday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Lululemon Athletica from $423.00 to $427.00 in a research report on Friday, June 3rd. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $423.88.
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NASDAQ LULU traded up $7.03 during trading hours on Friday, reaching $293.36. 1,442,685 shares of the company’s stock were exchanged, compared to its average volume of 1,540,977. The stock has a market cap of $37.44 billion, a PE ratio of 37.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30. Lululemon Athletica has a one year low of $251.51 and a one year high of $485.83. The firm has a fifty day moving average of $310.73 and a 200-day moving average of $333.26.
Lululemon Athletica (NASDAQ:LULU – Get Rating) last released its quarterly earnings results on Thursday, June 2nd. The apparel retailer reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.55 billion. Lululemon Athletica had a return on equity of 39.23% and a net margin of 15.36%. Lululemon Athletica’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 EPS. On average, equities analysts forecast that Lululemon Athletica will post 9.47 earnings per share for the current fiscal year.
Lululemon Athletica announced that its Board of Directors has approved a stock buyback program on Tuesday, March 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of institutional investors have recently modified their holdings of LULU. BlackRock Inc. raised its stake in shares of Lululemon Athletica by 1.3% in the 1st quarter. BlackRock Inc. now owns 6,610,763 shares of the apparel retailer’s stock valued at $2,414,447,000 after purchasing an additional 87,610 shares during the period. WCM Investment Management LLC raised its stake in shares of Lululemon Athletica by 0.8% in the 4th quarter. WCM Investment Management LLC now owns 5,521,523 shares of the apparel retailer’s stock valued at $2,161,400,000 after purchasing an additional 46,252 shares during the period. Jennison Associates LLC raised its stake in shares of Lululemon Athletica by 2.8% in the 1st quarter. Jennison Associates LLC now owns 3,859,066 shares of the apparel retailer’s stock valued at $1,409,447,000 after purchasing an additional 106,577 shares during the period. Wellington Management Group LLP raised its stake in shares of Lululemon Athletica by 21.8% in the 1st quarter. Wellington Management Group LLP now owns 2,824,943 shares of the apparel retailer’s stock valued at $1,031,753,000 after purchasing an additional 505,401 shares during the period. Finally, State Street Corp raised its stake in shares of Lululemon Athletica by 1.4% in the 4th quarter. State Street Corp now owns 2,824,073 shares of the apparel retailer’s stock valued at $1,105,483,000 after purchasing an additional 39,700 shares during the period. 85.48% of the stock is currently owned by institutional investors and hedge funds.
About Lululemon Athletica (Get Rating)
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in 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.
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