Lululemon Athletica inc. (NASDAQ:LULU) – Investment analysts at William Blair boosted their Q2 2020 earnings per share (EPS) estimates for Lululemon Athletica in a research note issued on Wednesday, June 12th. William Blair analyst S. Zackfia now expects that the apparel retailer will earn $0.87 per share for the quarter, up from their previous forecast of $0.84. William Blair also issued estimates for Lululemon Athletica’s Q3 2020 earnings at $0.86 EPS, Q4 2020 earnings at $2.19 EPS and FY2020 earnings at $4.66 EPS.
LULU has been the topic of a number of other research reports. Stifel Nicolaus boosted their price objective on shares of Lululemon Athletica from $152.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. BidaskClub cut shares of Lululemon Athletica from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Nomura restated a “neutral” rating and issued a $157.00 price objective (up previously from $140.00) on shares of Lululemon Athletica in a research report on Tuesday, February 19th. They noted that the move was a valuation call. Oppenheimer boosted their price objective on shares of Lululemon Athletica from $190.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Cowen boosted their price objective on shares of Lululemon Athletica from $190.00 to $192.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Eleven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $187.07.
LULU stock opened at $174.52 on Friday. Lululemon Athletica has a 12-month low of $110.71 and a 12-month high of $182.89. The stock has a market capitalization of $22.38 billion, a price-to-earnings ratio of 45.45, a PEG ratio of 2.02 and a beta of 0.60.
Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. Lululemon Athletica had a net margin of 14.77% and a return on equity of 38.60%. The company had revenue of $782.30 million for the quarter, compared to analysts’ expectations of $755.92 million. During the same quarter last year, the company earned $0.55 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year.
Lululemon Athletica announced that its board has approved a stock repurchase 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 buy up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Dennis J. Wilson sold 155,800 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $144.43, for a total transaction of $22,502,194.00. Following the transaction, the director now owns 3,852 shares in the company, valued at $556,344.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Celeste Burgoyne sold 19,199 shares of the business’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $166.54, for a total transaction of $3,197,401.46. Following the transaction, the executive vice president now owns 18,019 shares in the company, valued at approximately $3,000,884.26. The disclosure for this sale can be found here. Insiders have sold 519,344 shares of company stock worth $79,873,942 in the last quarter. 0.32% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stormborn Capital Management LLC bought a new stake in Lululemon Athletica during the first quarter worth about $4,097,000. Belpointe Asset Management LLC boosted its stake in Lululemon Athletica by 18.5% during the first quarter. Belpointe Asset Management LLC now owns 1,825 shares of the apparel retailer’s stock worth $299,000 after acquiring an additional 285 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in Lululemon Athletica during the first quarter worth about $25,000. Ocean Capital Management LLC boosted its stake in Lululemon Athletica by 153.9% during the first quarter. Ocean Capital Management LLC now owns 6,751 shares of the apparel retailer’s stock worth $1,106,000 after acquiring an additional 4,092 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in Lululemon Athletica during the first quarter worth about $323,000. Institutional investors own 80.78% 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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