lululemon athletica (LULU) Given a $85.00 Price Target at Robert W. Baird

lululemon athletica (NASDAQ:LULU) has been given a $85.00 price objective by research analysts at Robert W. Baird in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the apparel retailer’s stock. Robert W. Baird’s price objective would indicate a potential upside of 8.31% from the stock’s previous close.

Several other equities research analysts have also weighed in on LULU. B. Riley reissued a “neutral” rating on shares of lululemon athletica in a report on Wednesday, November 1st. BMO Capital Markets set a $75.00 price objective on lululemon athletica and gave the stock a “hold” rating in a report on Tuesday, December 19th. BidaskClub raised lululemon athletica from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. MKM Partners lifted their price objective on lululemon athletica to $89.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Finally, SunTrust Banks lifted their price objective on lululemon athletica from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $70.51.

Shares of lululemon athletica (NASDAQ:LULU) traded up $0.74 on Friday, reaching $78.48. The company had a trading volume of 948,700 shares, compared to its average volume of 2,600,089. lululemon athletica has a 52 week low of $47.26 and a 52 week high of $78.60. The stock has a market cap of $10,624.54, a price-to-earnings ratio of 39.04, a P/E/G ratio of 2.56 and a beta of 0.19.

lululemon athletica (NASDAQ:LULU) last announced its quarterly earnings data on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.04. lululemon athletica had a return on equity of 22.52% and a net margin of 10.96%. The company had revenue of $619.00 million during the quarter, compared to analyst estimates of $610.56 million. During the same quarter last year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. sell-side analysts expect that lululemon athletica will post 2.48 EPS for the current fiscal year.

lululemon athletica announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

A number of hedge funds have recently made changes to their positions in LULU. Sei Investments Co. lifted its position in lululemon athletica by 132.0% in the second quarter. Sei Investments Co. now owns 21,109 shares of the apparel retailer’s stock valued at $1,260,000 after purchasing an additional 12,010 shares during the last quarter. Global X Management Co. LLC lifted its position in lululemon athletica by 39.7% in the second quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock valued at $151,000 after purchasing an additional 719 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in lululemon athletica by 368.3% in the second quarter. Canada Pension Plan Investment Board now owns 20,410 shares of the apparel retailer’s stock valued at $1,218,000 after purchasing an additional 16,052 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in lululemon athletica by 10.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 408,343 shares of the apparel retailer’s stock valued at $24,366,000 after purchasing an additional 37,047 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in lululemon athletica by 23.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 9,512 shares of the apparel retailer’s stock valued at $591,000 after purchasing an additional 1,776 shares during the last quarter. Hedge funds and other institutional investors own 79.31% 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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