Lululemon Athletica Inc. (LULU) PT Lowered to $46.00
Lululemon Athletica Inc. (NASDAQ:LULU) had its price objective reduced by equities research analysts at Goldman Sachs Group Inc. from $48.00 to $46.00 in a report released on Thursday. The firm currently has a “sell” rating on the apparel retailer’s stock. Goldman Sachs Group Inc.’s target price indicates a potential downside of 27.57% from the company’s previous close.
Several other brokerages also recently issued reports on LULU. Credit Suisse Group AG reiterated a “buy” rating on shares of Lululemon Athletica in a research report on Thursday, June 9th. SunTrust Banks Inc. reiterated a “buy” rating and issued a $83.00 price objective on shares of Lululemon Athletica in a research report on Tuesday, June 21st. KeyCorp lifted their price objective on Lululemon Athletica from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, August 2nd. Mizuho lifted their price objective on Lululemon Athletica from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Wednesday, June 8th. Finally, Wedbush lifted their price objective on Lululemon Athletica from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, September 2nd. Six analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $71.86.
Lululemon Athletica (NASDAQ:LULU) opened at 63.51 on Thursday. The firm has a 50 day moving average price of $72.27 and a 200-day moving average price of $69.52. Lululemon Athletica has a 12 month low of $43.14 and a 12 month high of $81.81. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 32.59 and a beta of 0.65.
Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, September 1st. The apparel retailer reported $0.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Lululemon Athletica had a return on equity of 23.73% and a net margin of 12.28%. The business earned $514.52 million during the quarter. During the same quarter last year, the business earned $0.34 EPS. Lululemon Athletica’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts forecast that Lululemon Athletica will post $2.12 EPS for the current year.
A number of large investors have recently modified their holdings of LULU. Jennison Associates LLC increased its stake in shares of Lululemon Athletica by 761.4% in the second quarter. Jennison Associates LLC now owns 6,234,712 shares of the apparel retailer’s stock worth $460,496,000 after buying an additional 5,510,939 shares in the last quarter. Lone Pine Capital LLC increased its stake in shares of Lululemon Athletica by 42.9% in the second quarter. Lone Pine Capital LLC now owns 7,410,304 shares of the apparel retailer’s stock worth $547,325,000 after buying an additional 2,224,220 shares in the last quarter. Norges Bank acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth $47,695,000. 1832 Asset Management L.P. increased its stake in shares of Lululemon Athletica by 296,140.0% in the first quarter. 1832 Asset Management L.P. now owns 740,600 shares of the apparel retailer’s stock worth $84,504,000 after buying an additional 740,350 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of Lululemon Athletica during the second quarter worth $39,857,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.
Lululemon Athletica Company Profile
Lululemon Athletica Inc is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth.
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