Lululemon Athletica (NASDAQ:LULU) had its price target hoisted by SunTrust Banks to $90.00 in a research report issued to clients and investors on Tuesday, January 9th, The Fly reports. The brokerage currently has a “buy” rating on the apparel retailer’s stock. SunTrust Banks’ target price indicates a potential upside of 15.50% from the stock’s previous close. SunTrust Banks also issued estimates for Lululemon Athletica’s Q4 2018 earnings at $1.27 EPS, FY2018 earnings at $2.53 EPS and FY2019 earnings at $2.96 EPS.
Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Monday, September 18th. Needham & Company LLC set a $69.00 price objective on shares of Lululemon Athletica and gave the stock a “buy” rating in a research note on Monday, October 16th. Robert W. Baird reiterated a “buy” rating and set a $72.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, October 4th. Citigroup upgraded shares of Lululemon Athletica from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $61.50 to $60.09 in a research note on Friday, October 20th. Finally, Cowen reiterated a “buy” rating and set a $68.00 price objective on shares of Lululemon Athletica in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Lululemon Athletica currently has a consensus rating of “Hold” and a consensus target price of $72.95.
Lululemon Athletica (NASDAQ:LULU) traded up $1.22 during trading hours on Tuesday, hitting $77.92. 1,254,617 shares of the stock traded hands, compared to its average volume of 2,030,000. The company has a market cap of $10,550.00, a price-to-earnings ratio of 38.77, a P/E/G ratio of 2.43 and a beta of 0.19. Lululemon Athletica has a twelve month low of $47.26 and a twelve month high of $81.92.
Lululemon Athletica declared that its board has initiated a stock buyback plan on Wednesday, December 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of LULU. Janus Henderson Group PLC lifted its holdings in Lululemon Athletica by 16,053.2% during the second quarter. Janus Henderson Group PLC now owns 2,614,550 shares of the apparel retailer’s stock valued at $156,010,000 after purchasing an additional 2,598,364 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Lululemon Athletica in the second quarter valued at about $94,181,000. HS Management Partners LLC raised its position in shares of Lululemon Athletica by 36.4% in the second quarter. HS Management Partners LLC now owns 2,775,486 shares of the apparel retailer’s stock valued at $165,613,000 after buying an additional 741,200 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Lululemon Athletica by 145.9% in the second quarter. TIAA CREF Investment Management LLC now owns 1,153,948 shares of the apparel retailer’s stock valued at $68,856,000 after buying an additional 684,667 shares during the last quarter. Finally, Lodge Hill Capital LLC acquired a new stake in shares of Lululemon Athletica in the second quarter valued at about $39,978,000. 79.42% of the stock is currently owned by institutional investors and hedge funds.
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.
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