Lululemon Athletica (NASDAQ:LULU) had its price target lifted by research analysts at Credit Suisse Group from $172.00 to $190.00 in a research report issued on Thursday, March 28th, The Fly reports. The brokerage currently has an “outperform” rating on the apparel retailer’s stock. Credit Suisse Group’s target price would indicate a potential upside of 9.63% from the company’s current price.
A number of other equities research analysts have also weighed in on LULU. MKM Partners boosted their price objective on Lululemon Athletica from $177.00 to $179.00 and gave the stock a “buy” rating in a research report on Wednesday, January 16th. Guggenheim restated a “buy” rating and set a $165.00 price objective on shares of Lululemon Athletica in a research report on Thursday, December 6th. BidaskClub upgraded Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 22nd. Wells Fargo & Co reduced their price objective on Lululemon Athletica from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 2nd. Finally, Canaccord Genuity set a $161.00 price target on Lululemon Athletica and gave the company a “buy” rating in a research report on Saturday, December 8th. Ten analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Lululemon Athletica has a consensus rating of “Buy” and an average price target of $167.91.
NASDAQ LULU traded up $2.08 during midday trading on Thursday, hitting $173.31. The company had a trading volume of 2,293,194 shares, compared to its average volume of 3,286,813. The stock has a market capitalization of $22.69 billion, a PE ratio of 45.13, a P/E/G ratio of 2.09 and a beta of 0.52. Lululemon Athletica has a twelve month low of $94.20 and a twelve month high of $174.64.
Lululemon Athletica declared that its board has initiated a stock repurchase plan on Wednesday, March 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the apparel retailer to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Dennis J. Wilson sold 288,856 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $155.79, for a total value of $45,000,876.24. Following the sale, the director now owns 3,852 shares in the company, valued at $600,103.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stuart Haselden sold 49,319 shares of the stock in a transaction on Friday, March 29th. The stock was sold at an average price of $164.62, for a total value of $8,118,893.78. Following the completion of the sale, the chief operating officer now owns 24,685 shares in the company, valued at approximately $4,063,644.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,142,883 shares of company stock valued at $316,468,220. 0.32% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LULU. AdvisorNet Financial Inc raised its position in Lululemon Athletica by 70.8% during the fourth quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock valued at $25,000 after purchasing an additional 85 shares in the last quarter. Semmax Financial Advisors Inc. bought a new position in shares of Lululemon Athletica during the fourth quarter valued at about $25,000. Oregon Public Employees Retirement Fund grew its stake in shares of Lululemon Athletica by 11,283.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 4,023,801 shares during the last quarter. PRW Wealth Management LLC bought a new position in shares of Lululemon Athletica during the fourth quarter valued at about $34,000. Finally, Exane Derivatives grew its stake in shares of Lululemon Athletica by 32,600.0% during the fourth quarter. Exane Derivatives now owns 327 shares of the apparel retailer’s stock valued at $40,000 after buying an additional 326 shares during the last quarter. Institutional investors and hedge funds own 80.47% of the company’s stock.
About Lululemon Athletica
lululemon athletica inc., 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.
Further Reading: What is Cost of Goods Sold (COGS)?
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