Lululemon Athletica (NASDAQ:LULU) had its target price increased by Credit Suisse Group from $96.00 to $98.00 in a research note published on Wednesday. The brokerage currently has an outperform rating on the apparel retailer’s stock.
A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus reissued a hold rating on shares of Lululemon Athletica in a research note on Tuesday, January 9th. Zacks Investment Research cut shares of Lululemon Athletica from a hold rating to a sell rating in a research note on Tuesday, November 28th. BidaskClub raised shares of Lululemon Athletica from a buy rating to a strong-buy rating in a research note on Wednesday, December 27th. Canaccord Genuity set a $43.00 price target on shares of Lululemon Athletica and gave the stock a sell rating in a research note on Tuesday, December 5th. Finally, Cowen set a $90.00 price target on shares of Lululemon Athletica and gave the stock a buy rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $80.05.
Shares of NASDAQ LULU opened at $89.12 on Wednesday. The stock has a market capitalization of $12,064.98, a P/E ratio of 34.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.22. Lululemon Athletica has a 52 week low of $47.26 and a 52 week high of $89.54.
Lululemon Athletica declared that its board has approved a stock buyback plan on Wednesday, December 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In related news, major shareholder Dennis J. Wilson sold 722,134 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $77.47, for a total value of $55,943,720.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Lululemon Athletica by 702.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock valued at $120,000 after buying an additional 1,335 shares during the period. Zions Bancorporation raised its stake in shares of Lululemon Athletica by 183.2% during the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after purchasing an additional 1,356 shares during the period. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter valued at approximately $171,000. American International Group Inc. purchased a new stake in shares of Lululemon Athletica during the fourth quarter valued at approximately $180,000. Finally, Marco Investment Management LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter valued at approximately $204,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.
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Lululemon Athletica Company Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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