Lululemon Athletica (NASDAQ:LULU) had its price target hoisted by Deutsche Bank from $204.00 to $205.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the apparel retailer’s stock. Deutsche Bank’s target price indicates a potential upside of 19.96% from the company’s current price.
Several other equities research analysts have also recently weighed in on the stock. Macquarie upgraded shares of Lululemon Athletica from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 7th. BidaskClub upgraded shares of Lululemon Athletica from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Credit Suisse Group raised their price target on shares of Lululemon Athletica from $190.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Bank of America raised their price target on shares of Lululemon Athletica from $185.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Oppenheimer raised their price target on shares of Lululemon Athletica from $190.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Eleven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Lululemon Athletica presently has a consensus rating of “Buy” and an average target price of $183.30.
NASDAQ LULU opened at $170.89 on Thursday. Lululemon Athletica has a twelve month low of $110.71 and a twelve month high of $179.49. The stock has a market capitalization of $22.47 billion, a P/E ratio of 44.50, a P/E/G ratio of 2.03 and a beta of 0.60.
Lululemon Athletica declared that its board has initiated a share repurchase plan on Wednesday, March 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the apparel retailer to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other news, insider Michelle Sun Choe sold 6,170 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $170.92, for a total value of $1,054,576.40. Following the completion of the transaction, the insider now owns 11,294 shares in the company, valued at $1,930,370.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Stuart Haselden sold 49,319 shares of Lululemon Athletica stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $164.62, for a total transaction of $8,118,893.78. Following the completion of the transaction, the chief operating officer now owns 24,685 shares of the company’s stock, valued at approximately $4,063,644.70. The disclosure for this sale can be found here. Insiders sold 519,344 shares of company stock valued at $79,873,942 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of LULU. AdvisorNet Financial Inc increased its holdings 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 purchasing an additional 85 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $25,000. Meridian Wealth Management LLC acquired a new stake in shares of Lululemon Athletica in the first quarter valued at approximately $25,000. Oregon Public Employees Retirement Fund increased its holdings 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 purchasing an additional 4,023,801 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Lululemon Athletica in the first quarter valued at approximately $33,000. Institutional investors 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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