Zacks Investment Research upgraded shares of lululemon athletica inc. (NASDAQ:LULU) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $76.00 price objective on the apparel retailer’s stock.
According to Zacks, “Lululemon’s impressive performance history and growth drivers have helped its shares outperform the Zacks categorized industry in the last one year. The company recently raised the lower end of its fourth quarter fiscal 2016 earnings and sales view, backed by a solid holiday season. While most retailers struggled, Lululemon emerged strong, driven by solid performance across both stores and online. This, in turn was fuelled by the company’s impressive operational execution, enhanced customer experience and robust assortments. Apart from this, Lululemon’s solid sales history remains noteworthy. Also, the company’s 2020 strategy, aimed at doubling revenues and more than doubling earnings, has been a constant growth driver. However, the fading popularity of athleisure wear is likely to take a toll on the company’s performance as denims are back in vogue. Stiff competition from other players also remains a headwind.”
Several other research firms also recently issued reports on LULU. Credit Suisse Group downgraded shares of lululemon athletica inc. from an outperform rating to a neutral rating and decreased their price objective for the company from $76.00 to $53.00 in a research note on Sunday, December 4th. Wells Fargo & Company restated a buy rating on shares of lululemon athletica inc. in a research note on Thursday, October 6th. Canaccord Genuity downgraded shares of lululemon athletica inc. from a hold rating to a sell rating and decreased their price objective for the company from $65.00 to $44.00 in a research note on Friday, December 2nd. Wedbush set a $70.00 price objective on shares of lululemon athletica inc. and gave the company a buy rating in a research note on Tuesday, December 6th. Finally, Buckingham Research initiated coverage on shares of lululemon athletica inc. in a research note on Tuesday, November 29th. They issued a neutral rating and a $55.00 price objective for the company. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $71.08.
lululemon athletica inc. (NASDAQ:LULU) traded down 0.87% during trading on Tuesday, hitting $69.29. The company’s stock had a trading volume of 1,464,377 shares. lululemon athletica inc. has a one year low of $52.71 and a one year high of $81.81. The company has a 50-day moving average of $63.14 and a 200 day moving average of $67.09. The firm has a market cap of $9.50 billion, a PE ratio of 33.46 and a beta of 0.43.
lululemon athletica inc. (NASDAQ:LULU) last posted its earnings results on Wednesday, December 7th. The apparel retailer reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $544.40 million for the quarter, compared to analyst estimates of $540.81 million. lululemon athletica inc. had a return on equity of 24.32% and a net margin of 12.60%. lululemon athletica inc.’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, equities analysts forecast that lululemon athletica inc. will post $2.15 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lone Pine Capital LLC raised its position in lululemon athletica inc. by 42.9% in the second quarter. Lone Pine Capital LLC now owns 7,410,304 shares of the apparel retailer’s stock worth $547,325,000 after buying an additional 2,224,220 shares during the last quarter. Vanguard Group Inc. raised its position in lululemon athletica inc. by 2.0% in the second quarter. Vanguard Group Inc. now owns 7,057,420 shares of the apparel retailer’s stock worth $521,261,000 after buying an additional 139,604 shares during the last quarter. Capital International Investors raised its position in lululemon athletica inc. by 0.4% in the third quarter. Capital International Investors now owns 1,559,613 shares of the apparel retailer’s stock worth $95,105,000 after buying an additional 6,310 shares during the last quarter. Waddell & Reed Financial Inc. raised its position in lululemon athletica inc. by 20.0% in the second quarter. Waddell & Reed Financial Inc. now owns 1,250,852 shares of the apparel retailer’s stock worth $92,388,000 after buying an additional 208,242 shares during the last quarter. Finally, HS Management Partners LLC raised its position in lululemon athletica inc. by 17.5% in the third quarter. HS Management Partners LLC now owns 1,234,169 shares of the apparel retailer’s stock worth $75,260,000 after buying an additional 183,950 shares during the last quarter. 91.02% of the stock is owned by hedge funds and other institutional investors.
About lululemon athletica inc.
Lululemon Athletica Inc is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth.
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