Lululemon Athletica (LULU) PT Raised to $116.00 at SunTrust Banks

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Lululemon Athletica (NASDAQ:LULU) had its price objective boosted by SunTrust Banks from $114.00 to $116.00 in a research note issued to investors on Friday, June 1st, Marketbeat Ratings reports. The firm presently has a “buy” rating on the apparel retailer’s stock. SunTrust Banks’ price target would indicate a potential downside of 6.59% from the company’s previous close. SunTrust Banks also issued estimates for Lululemon Athletica’s Q4 2019 earnings at $1.47 EPS, FY2019 earnings at $3.20 EPS and FY2020 earnings at $3.68 EPS.

Other equities analysts have also recently issued reports about the company. Cowen increased their price target on Lululemon Athletica from $90.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, March 27th. Canaccord Genuity set a $75.00 target price on Lululemon Athletica and gave the stock a “hold” rating in a report on Tuesday, February 6th. Zacks Investment Research raised Lululemon Athletica from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a report on Wednesday, May 30th. Robert W. Baird set a $99.00 target price on Lululemon Athletica and gave the stock a “buy” rating in a report on Wednesday, March 28th. Finally, Nomura set a $90.00 target price on Lululemon Athletica and gave the stock a “buy” rating in a report on Wednesday, March 28th. Fifteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Lululemon Athletica currently has an average rating of “Buy” and a consensus price target of $102.53.

Lululemon Athletica opened at $124.18 on Friday, MarketBeat reports. The company has a market capitalization of $17.33 billion, a P/E ratio of 47.95, a price-to-earnings-growth ratio of 2.96 and a beta of 0.15. Lululemon Athletica has a 12-month low of $54.09 and a 12-month high of $129.79.

Lululemon Athletica (NASDAQ:LULU) last released 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 for the quarter, compared to analysts’ expectations of $912.41 million. Lululemon Athletica had a return on equity of 25.46% and a net margin of 10.89%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. equities analysts anticipate that Lululemon Athletica will post 3.21 earnings per share for the current fiscal year.

In other news, major shareholder International Corp/Ma Advent sold 10,000,000 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $121.00, for a total transaction of $1,210,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David M. Mussafer sold 17,935 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $121.00, for a total transaction of $2,170,135.00. Following the sale, the director now directly owns 18,202 shares of the company’s stock, valued at approximately $2,202,442. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Private Capital Group LLC increased its holdings in Lululemon Athletica by 103.3% during the first quarter. Private Capital Group LLC now owns 1,222 shares of the apparel retailer’s stock valued at $109,000 after buying an additional 621 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Lululemon Athletica by 702.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock valued at $120,000 after buying an additional 1,335 shares during the period. Gilder Gagnon Howe & Co. LLC purchased a new position in Lululemon Athletica during the fourth quarter valued at approximately $171,000. American International Group Inc. purchased a new position in Lululemon Athletica during the fourth quarter valued at approximately $180,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Lululemon Athletica by 42.4% during the first quarter. The Manufacturers Life Insurance Company now owns 2,110 shares of the apparel retailer’s stock valued at $188,000 after buying an additional 628 shares during the period. 81.75% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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