Lululemon Athletica (LULU) Given a $90.00 Price Target at Cowen
Lululemon Athletica (NASDAQ:LULU) has been given a $90.00 price objective by analysts at Cowen in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the apparel retailer’s stock. Cowen’s target price suggests a potential upside of 16.02% from the stock’s current price.
LULU has been the subject of several other reports. Deutsche Bank raised their target price on shares of Lululemon Athletica from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. B. Riley reissued a “hold” rating and issued a $70.00 target price on shares of Lululemon Athletica in a research note on Tuesday, January 9th. BidaskClub cut shares of Lululemon Athletica from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 10th. MKM Partners raised their target price on shares of Lululemon Athletica from $89.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Barclays reissued a “buy” rating and issued a $95.00 target price on shares of Lululemon Athletica in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lululemon Athletica has an average rating of “Hold” and a consensus target price of $73.26.
Shares of Lululemon Athletica (NASDAQ LULU) traded down $0.35 on Thursday, hitting $77.57. 1,130,900 shares of the stock traded hands, compared to its average volume of 1,599,758. The company has a market cap of $10,500.00, a PE ratio of 38.59, a P/E/G ratio of 2.40 and a beta of 0.19. Lululemon Athletica has a one year low of $47.26 and a one year high of $81.92.
Lululemon Athletica announced that its board has authorized a share buyback program on Wednesday, December 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of LULU. IHT Wealth Management LLC lifted its holdings in shares of Lululemon Athletica by 591.0% during the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock worth $105,000 after buying an additional 1,182 shares in the last quarter. Zions Bancorporation increased 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 worth $130,000 after purchasing an additional 1,356 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of Lululemon Athletica in the third quarter worth $156,000. Oakbrook Investments LLC bought a new position in shares of Lululemon Athletica in the third quarter worth $202,000. Finally, Mackenzie Financial Corp bought a new position in shares of Lululemon Athletica in the third quarter worth $232,000. 79.42% of the stock is owned by institutional investors.
About Lululemon Athletica
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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