lululemon athletica (LULU) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of lululemon athletica (NASDAQ:LULU) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

LULU has been the subject of a number of other reports. Canaccord Genuity set a $41.00 target price on shares of lululemon athletica and gave the company a sell rating in a research note on Tuesday, August 29th. BMO Capital Markets reiterated a hold rating and issued a $55.00 target price on shares of lululemon athletica in a research note on Thursday, November 2nd. Zacks Investment Research cut shares of lululemon athletica from a buy rating to a hold rating in a research note on Tuesday, November 14th. Cowen reiterated an outperform rating and issued a $68.00 target price (up from $67.00) on shares of lululemon athletica in a research note on Friday, September 1st. Finally, Robert W. Baird reiterated a buy rating and issued a $72.00 target price on shares of lululemon athletica in a research note on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $70.44.

lululemon athletica (NASDAQ:LULU) traded up $0.86 during midday trading on Tuesday, reaching $77.74. 1,346,200 shares of the company’s stock were exchanged, compared to its average volume of 2,606,802. The firm has a market capitalization of $10,407.94, a PE ratio of 33.87, a PEG ratio of 2.51 and a beta of 0.19. lululemon athletica has a 1 year low of $47.26 and a 1 year high of $78.00.

lululemon athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.04. The firm had revenue of $619.00 million during the quarter, compared to analysts’ expectations of $610.56 million. lululemon athletica had a net margin of 10.96% and a return on equity of 22.52%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. equities research analysts anticipate that lululemon athletica will post 2.48 earnings per share for the current fiscal year.

lululemon athletica declared that its Board of Directors has initiated a share buyback program on Wednesday, December 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC increased its position in lululemon athletica by 591.0% during the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock worth $105,000 after acquiring an additional 1,182 shares during the period. Zions Bancorporation increased its position in lululemon athletica by 183.2% during the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock worth $130,000 after acquiring an additional 1,356 shares during the period. Global X Management Co. LLC increased its position in lululemon athletica by 39.7% during the second quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock worth $151,000 after acquiring an additional 719 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in lululemon athletica during the third quarter worth $156,000. Finally, Oakbrook Investments LLC bought a new position in lululemon athletica during the third quarter worth $202,000. 79.30% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for lululemon athletica (NASDAQ:LULU)

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