Lululemon Athletica (NASDAQ:LULU) had its target price lifted by Argus to $200.00 in a research note published on Thursday morning, The Fly reports. Argus currently has a buy rating on the apparel retailer’s stock.
A number of other equities research analysts also recently weighed in on LULU. DA Davidson dropped their price target on shares of Carter’s to $91.00 and set an average rating for the company in a research report on Tuesday, July 9th. Canaccord Genuity lifted their price target on shares of from GBX 495 ($6.47) to GBX 500 ($6.53) and gave the company a buy rating in a research report on Thursday, June 13th. BidaskClub downgraded shares of Zynga from a buy rating to a hold rating in a research report on Tuesday, June 18th. Bank of America set a $64.00 price target on shares of Verizon Communications and gave the company a buy rating in a research report on Tuesday, April 23rd. Finally, Wedbush set a $175.00 price target on shares of Lululemon Athletica and gave the company a hold rating in a research report on Tuesday, June 11th. Ten analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $190.34.
Shares of LULU stock opened at $189.52 on Thursday. The stock’s 50 day moving average is $177.19. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 1.45. The firm has a market capitalization of $24.69 billion, a P/E ratio of 49.35, a PEG ratio of 2.19 and a beta of 0.64. Lululemon Athletica has a 12-month low of $110.71 and a 12-month high of $190.52.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Lululemon Athletica had a net margin of 14.77% and a return on equity of 38.77%. The company had revenue of $782.30 million during the quarter, compared to the consensus estimate of $755.92 million. During the same period in the previous year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Research analysts forecast that Lululemon Athletica will post 4.7 earnings per share for the current fiscal year.
Lululemon Athletica announced that its board has authorized a share repurchase program on Wednesday, March 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
In other Lululemon Athletica news, Director David M. Mussafer sold 4,484 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $186.10, for a total transaction of $834,472.40. Following the sale, the director now owns 18,947 shares of the company’s stock, valued at $3,526,036.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Semmax Financial Advisors Inc. acquired a new position in shares of Lululemon Athletica during the fourth quarter worth $25,000. Meridian Wealth Management LLC acquired a new position in shares of Lululemon Athletica during the first quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Lululemon Athletica during the first quarter worth $33,000. PRW Wealth Management LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter worth $34,000. Finally, Cordasco Financial Network acquired a new position in shares of Lululemon Athletica during the second quarter worth $36,000. 81.01% of the stock is currently owned by hedge funds and other institutional investors.
About Lululemon Athletica
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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