Lululemon Athletica (LULU) Sets New 52-Week High and Low on Analyst Upgrade

Lululemon Athletica (NASDAQ:LULU) reached a new 52-week high and low on Monday after SunTrust Banks raised their price target on the stock from $47.00 to $114.00. SunTrust Banks currently has a buy rating on the stock. Lululemon Athletica traded as low as $105.26 and last traded at $104.42, with a volume of 803516 shares traded. The stock had previously closed at $102.82.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC increased their price objective on shares of Lululemon Athletica from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, March 28th. Royal Bank of Canada reiterated a “buy” rating and set a $92.00 price objective (up previously from $90.00) on shares of Lululemon Athletica in a research note on Wednesday, March 28th. Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, March 28th. Cowen increased their price objective on shares of Lululemon Athletica from $90.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, March 27th. Finally, Zacks Investment Research upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Tuesday, March 27th. Seventeen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $83.97.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Lululemon Athletica by 2.7% in the first quarter. BlackRock Inc. now owns 5,055,938 shares of the apparel retailer’s stock valued at $450,584,000 after acquiring an additional 135,308 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Lululemon Athletica by 4.8% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,004,622 shares of the apparel retailer’s stock valued at $78,953,000 after acquiring an additional 45,572 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lululemon Athletica by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 976,136 shares of the apparel retailer’s stock valued at $76,672,000 after acquiring an additional 6,483 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Lululemon Athletica by 340.6% in the fourth quarter. Millennium Management LLC now owns 855,796 shares of the apparel retailer’s stock valued at $67,257,000 after acquiring an additional 661,547 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Lululemon Athletica by 37.6% in the fourth quarter. Jennison Associates LLC now owns 839,936 shares of the apparel retailer’s stock valued at $66,011,000 after acquiring an additional 229,552 shares in the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

The firm has a market cap of $13.93 billion, a PE ratio of 40.05, a P/E/G ratio of 2.51 and a beta of 0.14.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Tuesday, March 27th. The apparel retailer reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.06. The business had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $912.41 million. Lululemon Athletica had a net margin of 9.76% and a return on equity of 24.59%. The business’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. sell-side analysts predict that Lululemon Athletica will post 3.12 earnings per share for the current fiscal year.

Lululemon Athletica Company Profile

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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