Lululemon Athletica (LULU) Upgraded to Buy at Bank of America

Bank of America upgraded shares of Lululemon Athletica (NASDAQ:LULU) to a buy rating in a report released on Tuesday morning. The brokerage currently has $89.00 price objective on the apparel retailer’s stock, up from their prior price objective of $80.00.

Several other equities research analysts have also recently commented on the company. Citigroup cut Lululemon Athletica from a buy rating to a neutral rating and set a $88.00 price target for the company. in a research note on Tuesday. BidaskClub upgraded Lululemon Athletica from a buy rating to a strong-buy rating in a research note on Wednesday, December 27th. Robert W. Baird set a $85.00 price target on Lululemon Athletica and gave the stock a buy rating in a research note on Friday, December 22nd. BMO Capital Markets set a $75.00 price target on Lululemon Athletica and gave the stock a hold rating in a research note on Tuesday, December 19th. Finally, MKM Partners upped their price target on Lululemon Athletica to $89.00 and gave the stock a buy rating in a research note on Friday, December 15th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $72.28.

Lululemon Athletica (NASDAQ:LULU) traded down $1.10 during mid-day trading on Tuesday, hitting $78.59. The stock had a trading volume of 1,745,406 shares, compared to its average volume of 2,110,050. The firm has a market capitalization of $10,640.00, a P/E ratio of 39.10, a P/E/G ratio of 2.48 and a beta of 0.19. Lululemon Athletica has a 1-year low of $47.26 and a 1-year high of $80.27.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. Lululemon Athletica had a return on equity of 22.52% and a net margin of 10.96%. The business had revenue of $619.00 million during the quarter, compared to analysts’ expectations of $610.56 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. equities analysts anticipate that Lululemon Athletica will post 2.48 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has authorized a stock buyback plan on Wednesday, December 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

A number of institutional investors have recently bought and sold shares of LULU. Schwab Charles Investment Management Inc. grew its holdings in Lululemon Athletica by 10.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 408,343 shares of the apparel retailer’s stock valued at $24,366,000 after purchasing an additional 37,047 shares during the last quarter. Comerica Bank grew its holdings in Lululemon Athletica by 1.0% in the second quarter. Comerica Bank now owns 11,264 shares of the apparel retailer’s stock valued at $699,000 after purchasing an additional 115 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Lululemon Athletica by 10.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,842 shares of the apparel retailer’s stock valued at $1,840,000 after purchasing an additional 2,956 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Lululemon Athletica by 27.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,153 shares of the apparel retailer’s stock valued at $1,859,000 after purchasing an additional 6,624 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Lululemon Athletica by 847.8% in the second quarter. Principal Financial Group Inc. now owns 147,780 shares of the apparel retailer’s stock valued at $8,818,000 after purchasing an additional 132,188 shares during the last quarter. 79.31% of the stock is currently owned by institutional investors.

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About Lululemon Athletica

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 (NASDAQ:LULU)

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