Lululemon Athletica (LULU) Stock Rating Upgraded by BidaskClub

Lululemon Athletica (NASDAQ:LULU) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Other analysts also recently issued research reports about the stock. B. Riley reaffirmed a “neutral” rating on shares of Lululemon Athletica in a report on Wednesday, November 1st. MKM Partners upped their price target on shares of Lululemon Athletica from $89.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research downgraded shares of Lululemon Athletica from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Canaccord Genuity raised shares of Lululemon Athletica from a “sell” rating to a “hold” rating and upped their price target for the company from $43.00 to $70.00 in a report on Thursday, December 7th. Finally, Susquehanna Bancshares reaffirmed a “buy” rating and issued a $85.00 price target (up previously from $71.00) on shares of Lululemon Athletica in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.95.

Shares of Lululemon Athletica (LULU) opened at $77.15 on Thursday. Lululemon Athletica has a fifty-two week low of $47.26 and a fifty-two week high of $83.31. The stock has a market cap of $10,379.51, a PE ratio of 38.38, a price-to-earnings-growth ratio of 1.97 and a beta of 0.26.

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, beating the consensus estimate of $0.52 by $0.04. Lululemon Athletica had a net margin of 10.96% and a return on equity of 22.52%. The company had revenue of $619.00 million for the quarter, compared to the consensus estimate of $610.56 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. analysts predict that Lululemon Athletica will post 2.53 earnings per share for the current fiscal year.

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

A number of hedge funds have recently modified their holdings of the stock. Suntrust Banks Inc. increased its position in Lululemon Athletica by 5.9% during the second quarter. Suntrust Banks Inc. now owns 4,239 shares of the apparel retailer’s stock worth $252,000 after purchasing an additional 237 shares during the last quarter. Global X Management Co. LLC increased its position in Lululemon Athletica by 22.4% during the fourth quarter. Global X Management Co. LLC now owns 3,933 shares of the apparel retailer’s stock worth $309,000 after purchasing an additional 719 shares during the last quarter. Scotia Capital Inc. increased its position in Lululemon Athletica by 23.0% during the second quarter. Scotia Capital Inc. now owns 5,221 shares of the apparel retailer’s stock worth $311,000 after purchasing an additional 978 shares during the last quarter. First Republic Investment Management Inc. increased its position in Lululemon Athletica by 26.2% during the third quarter. First Republic Investment Management Inc. now owns 5,035 shares of the apparel retailer’s stock worth $313,000 after purchasing an additional 1,046 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Lululemon Athletica by 7.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 15,390 shares of the apparel retailer’s stock worth $958,000 after purchasing an additional 1,075 shares during the last quarter. 79.70% of the stock is owned by hedge funds and other institutional investors.

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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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