lululemon athletica inc. (NASDAQ:LULU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $68.00 price target on the apparel retailer’s stock. Zacks Investment Research‘s price objective points to a potential upside of 15.35% from the company’s current price.
According to Zacks, “Lululemon has surpassed the industry in the past three months, mainly driven by its focus on strategy for 2020, as part of which it aims to generate revenues of $4 billion. To achieve this, the company is committed toward product innovation, building store fleet in North America, expanding digital business and global expansion. All these factors helped Lululemon to post robust numbers in second-quarter fiscal 2017, even amid a tough retail landscape. Both sales and earnings topped estimates and grew year over year. While the bottom line marked its 2nd consecutive beat, the top line recorded its 7th straight quarter of positive surprise. Also, sturdy e-Commerce growth fueled comps. Apart from this, the company is on track with ivivva’s remodeling. The solid results and favorable third quarter trends encouraged management to raise its fiscal 2017 view. However, stiff competition and volatile consumer spending patterns may pose concerns.”
A number of other analysts have also recently commented on LULU. Canaccord Genuity restated a “sell” rating and issued a $41.00 price objective on shares of lululemon athletica inc. in a research report on Tuesday, May 23rd. Vetr upgraded lululemon athletica inc. from a “buy” rating to a “strong-buy” rating and set a $54.75 price objective for the company in a research report on Tuesday, May 23rd. Stifel Nicolaus set a $60.00 price objective on lululemon athletica inc. and gave the company a “buy” rating in a research report on Sunday, May 28th. Credit Suisse Group restated a “neutral” rating and issued a $56.00 price objective on shares of lululemon athletica inc. in a research report on Tuesday, May 30th. Finally, UBS AG restated a “neutral” rating and issued a $54.00 price objective (down from $57.00) on shares of lululemon athletica inc. in a research report on Tuesday, May 30th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $65.66.
Shares of lululemon athletica inc. (NASDAQ:LULU) opened at 58.95 on Monday. lululemon athletica inc. has a one year low of $47.26 and a one year high of $72.70. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 28.45 and a beta of 0.22. The firm’s 50-day moving average is $60.45 and its 200-day moving average is $56.95.
lululemon athletica inc. (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.04. lululemon athletica inc. had a return on equity of 22.51% and a net margin of 11.68%. The company had revenue of $581.10 million during the quarter, compared to the consensus estimate of $567.40 million. During the same period in the previous year, the company posted $0.38 earnings per share. lululemon athletica inc.’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts forecast that lululemon athletica inc. will post $2.41 EPS for the current year.
In related news, Director Glenn Murphy purchased 97,728 shares of lululemon athletica inc. stock in a transaction on Monday, June 26th. The shares were bought at an average price of $55.50 per share, with a total value of $5,423,904.00. Following the transaction, the director now directly owns 100,344 shares of the company’s stock, valued at $5,569,092. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in lululemon athletica inc. by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 7,850,066 shares of the apparel retailer’s stock valued at $468,413,000 after purchasing an additional 233,035 shares in the last quarter. BlackRock Inc. raised its position in lululemon athletica inc. by 4.4% in the 2nd quarter. BlackRock Inc. now owns 5,373,376 shares of the apparel retailer’s stock valued at $320,629,000 after purchasing an additional 228,068 shares in the last quarter. HS Management Partners LLC raised its position in lululemon athletica inc. by 36.4% in the 2nd quarter. HS Management Partners LLC now owns 2,775,486 shares of the apparel retailer’s stock valued at $165,613,000 after purchasing an additional 741,200 shares in the last quarter. Janus Henderson Group PLC raised its position in lululemon athletica inc. by 16,053.2% in the 2nd quarter. Janus Henderson Group PLC now owns 2,614,550 shares of the apparel retailer’s stock valued at $156,010,000 after purchasing an additional 2,598,364 shares in the last quarter. Finally, Eaton Vance Management acquired a new stake in lululemon athletica inc. in the 2nd quarter valued at about $126,967,000. 79.45% 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.
Receive News & Ratings for lululemon athletica inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for lululemon athletica inc. and related companies with MarketBeat.com's FREE daily email newsletter.