Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by equities research analysts at Royal Bank of Canada to $200.00 in a research report issued on Thursday, June 13th, The Fly reports. The brokerage presently has an “outperform” rating on the apparel retailer’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 9.16% from the stock’s previous close.
Several other research analysts also recently issued reports on LULU. Deutsche Bank upped their price objective on Lululemon Athletica from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Lululemon Athletica in a research note on Thursday, June 13th. Credit Suisse Group upped their price objective on Lululemon Athletica from $172.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Cowen upped their price objective on Lululemon Athletica from $190.00 to $192.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research upgraded Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $193.00 target price on the stock in a report on Monday, April 1st. Ten investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $189.34.
NASDAQ LULU traded down $0.78 during trading on Thursday, hitting $183.21. 1,511,688 shares of the company’s stock were exchanged, compared to its average volume of 2,864,566. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.45 and a current ratio of 2.33. The stock has a market capitalization of $23.87 billion, a P/E ratio of 47.71, a PEG ratio of 2.12 and a beta of 0.64. Lululemon Athletica has a fifty-two week low of $110.71 and a fifty-two week high of $190.52. The firm’s 50 day moving average price is $175.67.
Lululemon Athletica announced that its board has approved a share repurchase plan on Wednesday, March 27th that authorizes the company to repurchase $500.00 million in 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 often a sign that the company’s management believes its stock is undervalued.
In related news, Director David M. Mussafer sold 4,484 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $186.10, for a total value of $834,472.40. Following the completion of the sale, the director now directly owns 18,947 shares of the company’s stock, valued at approximately $3,526,036.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors Inc. increased its position in shares of Lululemon Athletica by 0.8% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,001 shares of the apparel retailer’s stock valued at $1,147,000 after purchasing an additional 59 shares during the last quarter. Resources Investment Advisors Inc. grew its stake in shares of Lululemon Athletica by 15.6% during the 1st quarter. Resources Investment Advisors Inc. now owns 445 shares of the apparel retailer’s stock worth $73,000 after acquiring an additional 60 shares during the period. AdvisorNet Financial Inc grew its stake in shares of Lululemon Athletica by 70.8% during the 4th quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 85 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Lululemon Athletica by 8.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,148 shares of the apparel retailer’s stock worth $188,000 after acquiring an additional 86 shares during the period. Finally, Telemus Capital LLC grew its stake in shares of Lululemon Athletica by 1.2% during the 4th quarter. Telemus Capital LLC now owns 10,124 shares of the apparel retailer’s stock worth $1,231,000 after acquiring an additional 119 shares during the period. 81.01% of the stock is owned by hedge funds and other institutional investors.
Lululemon Athletica Company Profile
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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