Wedbush initiated coverage on shares of Lululemon Athletica (NASDAQ:LULU) in a report issued on Thursday, MarketBeat.com reports. The brokerage issued a neutral rating and a $90.00 target price on the apparel retailer’s stock. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Wells Fargo set a $79.00 target price on shares of Lululemon Athletica and gave the company a hold rating in a report on Thursday, January 11th. Morgan Stanley upped their target price on shares of Lululemon Athletica from $82.00 to $85.00 and gave the company an equal weight rating in a report on Tuesday, April 10th. SunTrust Banks reaffirmed a buy rating and issued a $95.00 target price on shares of Lululemon Athletica in a report on Friday, February 2nd. Canaccord Genuity reaffirmed a hold rating and issued a $85.00 target price (up from $75.00) on shares of Lululemon Athletica in a report on Monday, March 26th. Finally, Credit Suisse Group upped their target price on shares of Lululemon Athletica from $96.00 to $98.00 and gave the company an outperform rating in a report on Wednesday, March 28th. Eighteen analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $82.65.
Shares of LULU opened at $98.54 on Thursday. Lululemon Athletica has a 1-year low of $47.26 and a 1-year high of $100.73. The firm has a market capitalization of $13.40 billion, a P/E ratio of 38.05, a P/E/G ratio of 2.44 and a beta of 0.14.
Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Tuesday, March 27th. The apparel retailer reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.06. Lululemon Athletica had a net margin of 9.76% and a return on equity of 24.59%. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $912.41 million. During the same period in the previous year, the company earned $1.00 earnings per share. Lululemon Athletica’s quarterly revenue was up 17.6% compared to the same quarter last year. equities analysts predict that Lululemon Athletica will post 3.09 EPS for the current year.
Several institutional investors have recently modified their holdings of the company. HAP Trading LLC acquired a new position in shares of Lululemon Athletica during the first quarter worth about $925,000. OppenheimerFunds Inc. increased its stake in shares of Lululemon Athletica by 170.1% during the first quarter. OppenheimerFunds Inc. now owns 157,212 shares of the apparel retailer’s stock worth $14,010,000 after acquiring an additional 99,000 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Lululemon Athletica during the first quarter worth about $2,941,000. Landscape Capital Management L.L.C. increased its stake in shares of Lululemon Athletica by 454.4% during the first quarter. Landscape Capital Management L.L.C. now owns 261,903 shares of the apparel retailer’s stock worth $23,341,000 after acquiring an additional 214,659 shares during the period. Finally, Quadrature Capital Ltd grew its position in Lululemon Athletica by 691.2% during the first quarter. Quadrature Capital Ltd now owns 294,036 shares of the apparel retailer’s stock worth $26,204,000 after buying an additional 256,873 shares during the period. Institutional investors and hedge funds own 79.41% of the company’s stock.
About Lululemon Athletica
lululemon athletica inc., an athletic apparel company, 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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