Lululemon Athletica (NASDAQ:LULU) had its price objective raised by Argus to $195.00 in a research report sent to investors on Friday, March 29th, The Fly reports. Argus currently has a buy rating on the apparel retailer’s stock.
Other equities research analysts also recently issued reports about the company. Canaccord Genuity set a $161.00 price target on Lululemon Athletica and gave the company a buy rating in a report on Saturday, December 8th. Stifel Nicolaus upgraded Lululemon Athletica from a hold rating to a buy rating and set a $151.00 price target for the company in a report on Monday, December 17th. Citigroup upgraded Lululemon Athletica from a neutral rating to a buy rating and set a $152.00 price target for the company in a report on Wednesday, December 12th. Cowen set a $185.00 price objective on Lululemon Athletica and gave the company a buy rating in a research report on Tuesday, December 11th. Finally, MKM Partners set a $177.00 price objective on Lululemon Athletica and gave the company a buy rating in a research report on Sunday, December 9th. Ten investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $167.91.
LULU stock opened at $173.31 on Friday. Lululemon Athletica has a 52-week low of $94.20 and a 52-week high of $174.64. The company has a market cap of $22.69 billion, a price-to-earnings ratio of 44.90, a price-to-earnings-growth ratio of 2.09 and a beta of 0.52.
Lululemon Athletica announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, major shareholder Dennis J. Wilson sold 244,539 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $149.83, for a total transaction of $36,639,278.37. Following the transaction, the insider now directly owns 3,852 shares of the company’s stock, valued at $577,145.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stuart Haselden sold 49,319 shares of the company’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $164.62, for a total value of $8,118,893.78. Following the transaction, the chief operating officer now directly owns 24,685 shares in the company, valued at $4,063,644.70. The disclosure for this sale can be found here. Insiders have sold 2,142,883 shares of company stock worth $316,468,220 over the last ninety days. 0.32% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of LULU. Optimum Investment Advisors grew its stake in Lululemon Athletica by 2,052.2% in the fourth quarter. Optimum Investment Advisors now owns 1,442 shares of the apparel retailer’s stock valued at $175,000 after purchasing an additional 1,375 shares in the last quarter. Jennison Associates LLC purchased a new position in Lululemon Athletica in the fourth quarter valued at about $314,834,000. Meeder Asset Management Inc. grew its stake in Lululemon Athletica by 9.2% in the fourth quarter. Meeder Asset Management Inc. now owns 8,070 shares of the apparel retailer’s stock valued at $981,000 after purchasing an additional 680 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in Lululemon Athletica by 60.3% in the fourth quarter. Gateway Investment Advisers LLC now owns 115,386 shares of the apparel retailer’s stock valued at $14,032,000 after purchasing an additional 43,389 shares in the last quarter. Finally, First Foundation Advisors bought a new stake in shares of Lululemon Athletica during the 4th quarter worth about $1,216,000. 80.47% of the stock is currently owned by hedge funds and other institutional investors.
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.
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