Lululemon Athletica (NASDAQ:LULU) had its price objective raised by UBS Group from $182.00 to $186.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage presently has a “neutral” rating on the apparel retailer’s stock. UBS Group’s price target indicates a potential upside of 1.35% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus boosted their price target on shares of Lululemon Athletica from $152.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. MKM Partners upped their target price on shares of Lululemon Athletica from $179.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $186.00 target price (up from $163.00) on shares of Lululemon Athletica in a report on Thursday, March 28th. Argus upped their target price on shares of Lululemon Athletica to $195.00 and gave the company a “buy” rating in a report on Friday, March 29th. Finally, Bank of America upped their target price on shares of Lululemon Athletica from $185.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Twelve research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $187.47.
NASDAQ:LULU traded up $6.81 on Monday, hitting $183.52. 188,126 shares of the company’s stock were exchanged, compared to its average volume of 2,477,708. The business has a 50-day simple moving average of $172.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.45 and a current ratio of 2.33. Lululemon Athletica has a 52 week low of $110.71 and a 52 week high of $182.89. The stock has a market capitalization of $23.14 billion, a P/E ratio of 47.79, a P/E/G ratio of 2.04 and a beta of 0.60.
Lululemon Athletica declared that its board has authorized a stock buyback plan on Wednesday, March 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other Lululemon Athletica news, insider Michelle Sun Choe sold 6,170 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $170.92, for a total value of $1,054,576.40. Following the transaction, the insider now directly owns 11,294 shares of the company’s stock, valued at approximately $1,930,370.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Haselden sold 49,319 shares of the stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $164.62, for a total transaction of $8,118,893.78. Following the completion of 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. Over the last three months, insiders sold 519,344 shares of company stock worth $79,873,942. Insiders own 0.32% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in LULU. Vanguard Group Inc raised its holdings in Lululemon Athletica by 10.6% in the 3rd 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. Oppenheimer Asset Management Inc. acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $134,000. BB&T Securities LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $219,000. Pinnacle Associates Ltd. acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $245,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $402,000. 80.60% 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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