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

lululemon athletica (NASDAQ:LULU) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

LULU has been the subject of several other reports. Cowen reaffirmed an “outperform” rating and issued a $68.00 target price (up from $67.00) on shares of lululemon athletica in a research report on Friday, September 1st. Zacks Investment Research cut shares of lululemon athletica from a “hold” rating to a “sell” rating in a research report on Tuesday, November 28th. Instinet reissued a “buy” rating and set a $67.00 price target (up from $65.00) on shares of lululemon athletica in a research report on Friday, September 1st. Robert W. Baird set a $70.00 price target on shares of lululemon athletica and gave the company a “buy” rating in a research report on Tuesday, August 29th. Finally, Buckingham Research reissued a “neutral” rating and set a $55.00 price target on shares of lululemon athletica in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $70.51.

Shares of lululemon athletica (NASDAQ LULU) traded down $0.12 during trading on Wednesday, reaching $79.28. 748,155 shares of the company’s stock were exchanged, compared to its average volume of 2,587,940. The company has a market cap of $10,720.00, a price-to-earnings ratio of 39.44, a PEG ratio of 2.56 and a beta of 0.19. lululemon athletica has a 1-year low of $47.26 and a 1-year high of $80.04.

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

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

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake 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. Eaton Vance Management purchased a new stake in lululemon athletica during the second quarter valued at $126,967,000. Lazard Asset Management LLC bought a new position in lululemon athletica during the second quarter valued at $94,181,000. HS Management Partners LLC increased its position in lululemon athletica by 36.4% during 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 acquiring an additional 741,200 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in lululemon athletica by 145.9% during 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 acquiring an additional 684,667 shares during the last quarter. 79.31% of the stock is currently owned by hedge funds and other institutional investors.

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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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