Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $235.00

Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by Cowen from $214.00 to $235.00 in a research note released on Tuesday morning, The Fly reports. Cowen currently has an outperform rating on the apparel retailer’s stock.

LULU has been the topic of several other research reports. Credit Suisse Group reaffirmed an outperform rating and issued a $235.00 price target (up previously from $198.00) on shares of Lululemon Athletica in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on Lululemon Athletica from $200.00 to $230.00 and gave the company an overweight rating in a research report on Friday, September 6th. Wells Fargo & Co set a $210.00 price objective on Lululemon Athletica and gave the company an outperform rating in a research report on Thursday, June 13th. Bank of America increased their price objective on Lululemon Athletica from $200.00 to $230.00 and gave the company a buy rating in a research report on Friday, September 6th. Finally, Susquehanna Bancshares set a $222.00 price objective on Lululemon Athletica and gave the company a buy rating in a research report on Thursday, September 5th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Lululemon Athletica presently has a consensus rating of Buy and a consensus target price of $205.39.

NASDAQ:LULU opened at $193.61 on Tuesday. The business’s 50-day moving average price is $185.22 and its two-hundred day moving average price is $174.85. Lululemon Athletica has a twelve month low of $110.71 and a twelve month high of $204.44. The stock has a market cap of $25.46 billion, a P/E ratio of 50.42, a PEG ratio of 2.27 and a beta of 0.65. The company has a quick ratio of 1.52, a current ratio of 2.41 and a debt-to-equity ratio of 0.38.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, September 5th. The apparel retailer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.07. Lululemon Athletica had a return on equity of 39.54% and a net margin of 14.93%. The firm had revenue of $883.35 million for the quarter, compared to analysts’ expectations of $845.03 million. During the same quarter last year, the firm posted $0.71 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts expect that Lululemon Athletica will post 4.74 EPS for the current fiscal year.

In related news, Director Dennis J. Wilson sold 164,061 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $182.89, for a total transaction of $30,005,116.29. Following the transaction, the director now directly owns 3,852 shares in the company, valued at approximately $704,492.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dennis J. Wilson sold 46,725 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $195.94, for a total value of $9,155,296.50. Following the transaction, the director now owns 3,852 shares in the company, valued at $754,760.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 420,548 shares of company stock worth $79,395,186. 0.34% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of LULU. Jennison Associates LLC grew its position in Lululemon Athletica by 144.2% during the 1st quarter. Jennison Associates LLC now owns 6,321,172 shares of the apparel retailer’s stock worth $1,035,850,000 after acquiring an additional 3,732,291 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Lululemon Athletica during the 2nd quarter worth approximately $211,310,000. BlackRock Inc. grew its position in Lululemon Athletica by 16.8% during the 2nd quarter. BlackRock Inc. now owns 6,886,727 shares of the apparel retailer’s stock worth $1,241,057,000 after acquiring an additional 990,207 shares during the last quarter. Vanguard Group Inc. grew its position in Lululemon Athletica by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 10,063,552 shares of the apparel retailer’s stock worth $1,813,552,000 after acquiring an additional 519,269 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Lululemon Athletica by 144.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,821 shares of the apparel retailer’s stock worth $129,719,000 after acquiring an additional 424,937 shares during the last quarter. Institutional investors and hedge funds own 81.00% of the company’s stock.

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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