Lululemon Athletica (LULU) Shares Gap Up After Analyst Upgrade

Shares of Lululemon Athletica inc. (NASDAQ:LULU) gapped up before the market opened on Monday after MKM Partners raised their price target on the stock from $174.00 to $177.00. The stock had previously closed at $128.10, but opened at $132.55. MKM Partners currently has a buy rating on the stock. Lululemon Athletica shares last traded at $139.89, with a volume of 3643790 shares traded.

LULU has been the topic of a number of other reports. Wedbush lifted their target price on Lululemon Athletica from $110.00 to $176.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 2nd. Cowen set a $175.00 target price on Lululemon Athletica and gave the stock a “buy” rating in a research report on Friday, August 31st. Barclays lifted their target price on Lululemon Athletica from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, August 31st. SunTrust Banks lifted their target price on Lululemon Athletica to $162.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Finally, Citigroup lifted their target price on Lululemon Athletica from $127.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, August 31st. Fourteen equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Lululemon Athletica presently has an average rating of “Buy” and an average price target of $156.73.

A number of large investors have recently bought and sold shares of LULU. Vanguard Group Inc. boosted its stake in Lululemon Athletica by 10.6% in the third quarter. Vanguard Group Inc. now owns 9,411,318 shares of the apparel retailer’s stock valued at $1,529,244,000 after acquiring an additional 899,080 shares during the period. BlackRock Inc. boosted its stake in Lululemon Athletica by 10.8% in the third quarter. BlackRock Inc. now owns 6,680,814 shares of the apparel retailer’s stock valued at $1,085,564,000 after acquiring an additional 650,365 shares during the period. JPMorgan Chase & Co. boosted its stake in Lululemon Athletica by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,873,494 shares of the apparel retailer’s stock valued at $466,913,000 after acquiring an additional 328,478 shares during the period. AQR Capital Management LLC boosted its stake in Lululemon Athletica by 32.2% in the third quarter. AQR Capital Management LLC now owns 2,830,681 shares of the apparel retailer’s stock valued at $459,958,000 after acquiring an additional 688,881 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Lululemon Athletica by 4.2% in the third quarter. Janus Henderson Group PLC now owns 2,022,061 shares of the apparel retailer’s stock valued at $328,565,000 after acquiring an additional 81,001 shares during the period. Institutional investors and hedge funds own 79.24% of the company’s stock.

The company has a market cap of $17.55 billion, a P/E ratio of 54.01, a P/E/G ratio of 1.92 and a beta of 0.37.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, August 30th. The apparel retailer reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.22. Lululemon Athletica had a return on equity of 28.67% and a net margin of 11.97%. The company had revenue of $723.50 million during the quarter, compared to the consensus estimate of $669.14 million. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, analysts anticipate that Lululemon Athletica inc. will post 3.59 earnings per share for the current fiscal year.

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About Lululemon Athletica (NASDAQ:LULU)

lululemon athletica inc., an athletic apparel company, together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.

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