Several other research analysts also recently commented on the company. Cowen reiterated a buy rating and issued a $68.00 price objective on shares of Lululemon Athletica in a report on Friday, November 3rd. Citigroup upgraded Lululemon Athletica from a neutral rating to a buy rating and reduced their target price for the stock from $61.50 to $60.09 in a report on Friday, October 20th. Zacks Investment Research cut Lululemon Athletica from a buy rating to a hold rating in a research report on Tuesday, November 14th. KeyCorp reissued a hold rating on shares of Lululemon Athletica in a research report on Friday, October 27th. Finally, JPMorgan Chase & Co. reaffirmed an overweight rating and issued a $79.00 price objective on shares of Lululemon Athletica in a research report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, twenty have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Lululemon Athletica currently has a consensus rating of Hold and an average target price of $72.95.
Lululemon Athletica (NASDAQ:LULU) traded down $2.14 during mid-day trading on Friday, hitting $76.70. The stock had a trading volume of 1,525,800 shares, compared to its average volume of 1,681,160. The company has a market capitalization of $10,570.00, a price-to-earnings ratio of 38.16, a PEG ratio of 2.43 and a beta of 0.19. Lululemon Athletica has a 52 week low of $47.26 and a 52 week high of $81.92.
Lululemon Athletica declared that its board has initiated a share repurchase plan on Wednesday, December 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of LULU. IHT Wealth Management LLC increased its holdings in Lululemon Athletica by 591.0% in the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after buying an additional 1,182 shares in the last quarter. Zions Bancorporation increased its holdings in Lululemon Athletica by 183.2% in the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after buying an additional 1,356 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in Lululemon Athletica in the third quarter valued at $156,000. Oakbrook Investments LLC purchased a new position in Lululemon Athletica in the third quarter valued at $202,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Lululemon Athletica during the third quarter worth about $232,000. Institutional investors own 79.42% of the company’s stock.
WARNING: This news story was originally published by BBNS and is owned by of BBNS. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://baseballnewssource.com/markets/canaccord-genuity-reiterates-75-00-price-target-for-lululemon-athletica-lulu/1823102.html.
Lululemon Athletica Company Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
Receive News & Ratings for Lululemon Athletica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica and related companies with our FREE daily email newsletter.