Lululemon Athletica (LULU) Price Target Cut to $89.00

Lululemon Athletica (NASDAQ:LULU) had its target price lowered by Deutsche Bank from $95.00 to $89.00 in a research note issued to investors on Thursday. The firm presently has a “neutral” rating on the apparel retailer’s stock. Deutsche Bank’s price objective points to a potential upside of 12.05% from the company’s previous close.

LULU has been the subject of several other research reports. Zacks Investment Research cut shares of Lululemon Athletica from a “hold” rating to a “sell” rating in a report on Tuesday, November 28th. Robert W. Baird reissued an “in-line” rating and set a $82.00 target price (up previously from $72.00) on shares of Lululemon Athletica in a report on Thursday, December 7th. BMO Capital Markets reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Lululemon Athletica in a report on Wednesday, September 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $71.00 price objective (up previously from $69.00) on shares of Lululemon Athletica in a report on Friday, December 1st. Finally, Canaccord Genuity raised shares of Lululemon Athletica from a “sell” rating to a “hold” rating and lifted their price objective for the company from $43.00 to $70.00 in a report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $71.68.

Lululemon Athletica (NASDAQ LULU) opened at $79.43 on Thursday. Lululemon Athletica has a fifty-two week low of $47.26 and a fifty-two week high of $80.46. The stock has a market cap of $10,750.00, a price-to-earnings ratio of 39.52, a P/E/G ratio of 2.48 and a beta of 0.19.

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

Lululemon Athletica announced that its Board of Directors has initiated a stock buyback plan on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the company. IHT Wealth Management LLC grew its position in shares of Lululemon Athletica by 591.0% in the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after purchasing an additional 1,182 shares during the period. Zions Bancorporation grew its position in shares of Lululemon Athletica by 183.2% in 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. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Lululemon Athletica in the third quarter valued at about $156,000. Oakbrook Investments LLC acquired a new stake in shares of Lululemon Athletica in the third quarter valued at about $202,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Lululemon Athletica in the third quarter valued at about $232,000. Institutional investors and hedge funds own 79.31% 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.

Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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