Nomura Reiterates Buy Rating for lululemon athletica inc. (LULU)
lululemon athletica inc. (NASDAQ:LULU)‘s stock had its “buy” rating reissued by research analysts at Nomura in a research report issued on Friday. They presently have a $67.00 price target on the apparel retailer’s stock, up from their previous price target of $65.00. Nomura’s price target would indicate a potential upside of 8.61% from the company’s previous close.
Several other equities analysts have also recently weighed in on LULU. Vetr cut lululemon athletica inc. from a “buy” rating to a “hold” rating and set a $54.75 price objective on the stock. in a report on Wednesday, May 10th. Berenberg Bank started coverage on lululemon athletica inc. in a report on Tuesday, May 16th. They set a “hold” rating and a $54.00 price objective on the stock. Credit Suisse Group reiterated a “hold” rating and set a $56.00 price objective on shares of lululemon athletica inc. in a report on Wednesday, May 17th. Zacks Investment Research cut lululemon athletica inc. from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. Finally, Canaccord Genuity reiterated a “sell” rating and set a $41.00 price objective on shares of lululemon athletica inc. in a report on Tuesday, May 23rd. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.62.
Shares of lululemon athletica inc. (LULU) traded up 7.19% during trading on Friday, hitting $61.69. The stock had a trading volume of 11,466,089 shares. lululemon athletica inc. has a 1-year low of $47.26 and a 1-year high of $72.70. The firm has a 50 day moving average of $60.47 and a 200 day moving average of $57.49. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 29.22 and a beta of 0.22.
lululemon athletica inc. (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 31st. The apparel retailer reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.04. lululemon athletica inc. had a return on equity of 22.51% and a net margin of 11.68%. The business had revenue of $581.10 million for the quarter, compared to analysts’ expectations of $567.40 million. During the same quarter in the previous year, the business posted $0.38 EPS. lululemon athletica inc.’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts expect that lululemon athletica inc. will post $2.40 EPS for the current fiscal year.
In related news, Director Glenn Murphy bought 97,728 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was purchased at an average cost of $55.50 per share, for a total transaction of $5,423,904.00. Following the transaction, the director now owns 100,344 shares in the company, valued at approximately $5,569,092. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. USA Financial Portformulas Corp bought a new stake in shares of lululemon athletica inc. during the 2nd quarter valued at $861,000. Grandeur Peak Global Advisors LLC lifted its position in shares of lululemon athletica inc. by 1,021.5% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 79,625 shares of the apparel retailer’s stock valued at $4,751,000 after acquiring an additional 72,525 shares during the period. Scotia Capital Inc. lifted its position in shares of lululemon athletica inc. by 23.0% during the 2nd quarter. Scotia Capital Inc. now owns 5,221 shares of the apparel retailer’s stock valued at $311,000 after acquiring an additional 978 shares during the period. IHT Wealth Management LLC lifted its position in shares of lululemon athletica inc. by 591.0% during the 2nd quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after acquiring an additional 1,182 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of lululemon athletica inc. during the 2nd quarter valued at $3,363,000. Hedge funds and other institutional investors own 79.58% of the company’s stock.
lululemon athletica inc. 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.
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