Lululemon Athletica (NASDAQ:LULU) has been given a $175.00 target price by research analysts at Wedbush in a research report issued to clients and investors on Tuesday, TipRanks reports. The brokerage presently has a “hold” rating on the apparel retailer’s stock. Wedbush’s price target would suggest a potential upside of 1.96% from the company’s current price.
LULU has been the topic of several other reports. Zacks Investment Research upgraded shares of Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $193.00 price target on the stock in a research note on Monday, April 1st. DA Davidson lifted their price target on shares of Lululemon Athletica from $146.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, March 28th. Morgan Stanley lifted their price target on shares of Lululemon Athletica from $150.00 to $160.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Jefferies Financial Group lifted their price target on shares of Lululemon Athletica from $126.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of Lululemon Athletica from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Eleven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $177.70.
Shares of NASDAQ:LULU traded up $0.28 during midday trading on Tuesday, reaching $171.63. 1,986,402 shares of the company were exchanged, compared to its average volume of 2,123,380. Lululemon Athletica has a fifty-two week low of $110.71 and a fifty-two week high of $179.49. The firm has a market cap of $22.47 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 2.04 and a beta of 0.60.
Lululemon Athletica declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the apparel retailer to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Dennis J. Wilson sold 155,800 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $144.43, for a total transaction of $22,502,194.00. Following the completion of the sale, the director now directly owns 3,852 shares in the company, valued at $556,344.36. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dennis J. Wilson sold 288,856 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $155.79, for a total transaction of $45,000,876.24. Following the sale, the director now owns 3,852 shares of the company’s stock, valued at $600,103.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 519,344 shares of company stock valued at $79,873,942. Corporate insiders own 0.32% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. AdvisorNet Financial Inc lifted its stake in shares of Lululemon Athletica by 70.8% in the fourth quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 85 shares in the last quarter. Semmax Financial Advisors Inc. bought a new position in shares of Lululemon Athletica in the fourth quarter valued at $25,000. Meridian Wealth Management LLC bought a new position in shares of Lululemon Athletica in the first quarter valued at $25,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Lululemon Athletica by 11,283.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 4,023,801 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Lululemon Athletica in the first quarter valued at $33,000. Institutional investors and hedge funds own 80.78% of the company’s stock.
About Lululemon Athletica
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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