Several other equities analysts have also issued reports on the company. Citigroup raised Lululemon Athletica from a neutral rating to a buy rating and decreased their target price for the stock from $61.50 to $60.09 in a research note on Friday, October 20th. Zacks Investment Research downgraded Lululemon Athletica from a buy rating to a hold rating in a report on Tuesday, November 14th. Canaccord Genuity set a $43.00 price target on Lululemon Athletica and gave the stock a sell rating in a report on Tuesday, December 5th. KeyCorp restated a hold rating on shares of Lululemon Athletica in a report on Friday, October 27th. Finally, JPMorgan Chase & Co. restated an overweight rating and set a $79.00 price target on shares of Lululemon Athletica in a 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 issued a strong buy rating to the stock. Lululemon Athletica currently has an average rating of Hold and a consensus price target of $72.95.
Shares of Lululemon Athletica (NASDAQ:LULU) traded down $2.14 during trading on Monday, hitting $76.70. The stock had a trading volume of 1,524,400 shares, compared to its average volume of 2,050,000. Lululemon Athletica has a twelve month low of $47.26 and a twelve month high of $81.92. The firm has a market cap of $10,380.00, a price-to-earnings ratio of 38.16, a PEG ratio of 2.41 and a beta of 0.19.
Lululemon Athletica declared that its board has initiated a share repurchase program on Wednesday, December 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the apparel retailer to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of large investors have recently added to or reduced their stakes in LULU. Schwab Charles Investment Management Inc. grew its stake in Lululemon Athletica by 10.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 408,343 shares of the apparel retailer’s stock worth $24,366,000 after buying an additional 37,047 shares during the last quarter. Comerica Bank grew its stake in Lululemon Athletica by 1.0% during the 2nd quarter. Comerica Bank now owns 11,264 shares of the apparel retailer’s stock worth $699,000 after buying an additional 115 shares during the last quarter. Principal Financial Group Inc. grew its stake in Lululemon Athletica by 847.8% during the 2nd quarter. Principal Financial Group Inc. now owns 147,780 shares of the apparel retailer’s stock worth $8,818,000 after buying an additional 132,188 shares during the last quarter. CIBC World Markets Inc. grew its stake in Lululemon Athletica by 19.0% during the 2nd quarter. CIBC World Markets Inc. now owns 13,265 shares of the apparel retailer’s stock worth $792,000 after buying an additional 2,122 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Lululemon Athletica by 66.3% during the 2nd quarter. Franklin Resources Inc. now owns 6,870 shares of the apparel retailer’s stock worth $409,000 after buying an additional 2,740 shares during the last quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.
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About Lululemon Athletica
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.
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