Sanford C. Bernstein Begins Coverage on lululemon athletica inc. (LULU)

Sanford C. Bernstein began coverage on shares of lululemon athletica inc. (NASDAQ:LULU) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $66.00 target price on the apparel retailer’s stock.

LULU has been the subject of several other research reports. Jefferies Group LLC set a $56.00 target price on shares of lululemon athletica inc. and gave the company a hold rating in a research note on Friday, June 2nd. Berenberg Bank assumed coverage on shares of lululemon athletica inc. in a research note on Tuesday, May 16th. They issued a hold rating and a $54.00 target price for the company. Cowen and Company reiterated an outperform rating and issued a $68.00 target price (up previously from $67.00) on shares of lululemon athletica inc. in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of lululemon athletica inc. from a hold rating to a buy rating and set a $67.00 target price for the company in a research note on Thursday, August 17th. Finally, Credit Suisse Group set a $56.00 target price on shares of lululemon athletica inc. and gave the company a hold rating in a research note on Friday, August 25th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $65.68.

Shares of lululemon athletica inc. (LULU) traded down 1.06% during mid-day trading on Tuesday, reaching $60.47. The company had a trading volume of 633,753 shares. The company’s 50-day moving average price is $60.61 and its 200-day moving average price is $57.21. The company has a market capitalization of $8.19 billion, a PE ratio of 29.18 and a beta of 0.22. lululemon athletica inc. has a 52-week low of $47.26 and a 52-week high of $72.70.

lululemon athletica inc. (NASDAQ:LULU) last released its earnings results on Thursday, August 31st. The apparel retailer reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.04. lululemon athletica inc. had a net margin of 11.68% and a return on equity of 22.51%. The business had revenue of $581.10 million during the quarter, compared to analysts’ expectations of $567.40 million. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. On average, analysts forecast that lululemon athletica inc. will post $2.41 earnings per share for the current fiscal year.

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In other news, Director Glenn Murphy purchased 97,728 shares of lululemon athletica inc. stock in a transaction dated Monday, June 26th. The shares were bought at an average cost of $55.50 per share, with a total value of $5,423,904.00. Following the completion of the transaction, the director now directly owns 100,344 shares in the company, valued at approximately $5,569,092. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB boosted its position in shares of lululemon athletica inc. by 21.8% during the first quarter. Xact Kapitalforvaltning AB now owns 17,832 shares of the apparel retailer’s stock worth $925,000 after purchasing an additional 3,189 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of lululemon athletica inc. by 8.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 371,296 shares of the apparel retailer’s stock worth $19,260,000 after purchasing an additional 28,686 shares in the last quarter. CIBC World Markets Inc. boosted its position in shares of lululemon athletica inc. by 6.6% during the first quarter. CIBC World Markets Inc. now owns 11,143 shares of the apparel retailer’s stock worth $578,000 after purchasing an additional 688 shares in the last quarter. Stifel Financial Corp boosted its position in shares of lululemon athletica inc. by 49.1% during the first quarter. Stifel Financial Corp now owns 23,401 shares of the apparel retailer’s stock worth $1,207,000 after purchasing an additional 7,701 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of lululemon athletica inc. by 55.2% during the first quarter. Morgan Stanley now owns 821,041 shares of the apparel retailer’s stock worth $42,587,000 after purchasing an additional 292,183 shares in the last quarter. 79.58% of the stock is currently owned by institutional investors.

About lululemon athletica inc.

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.

Analyst Recommendations for lululemon athletica inc. (NASDAQ:LULU)

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