Oppenheimer Holdings Inc. set a $70.00 price objective on Lululemon Athletica Inc. (NASDAQ:LULU) in a research note published on Tuesday morning. The firm currently has a a buy rating on the apparel retailer’s stock.
LULU has been the subject of several other reports. Piper Jaffray Cos. raised shares of Lululemon Athletica from a hold rating to a buy rating in a research note on Friday, September 9th. FBR & Co reaffirmed an underperform rating and issued a $40.00 target price on shares of Lululemon Athletica in a research note on Friday, September 2nd. Vetr raised shares of Lululemon Athletica from a buy rating to a strong-buy rating in a research note on Friday, September 30th. Credit Suisse Group AG reissued a buy rating and set a $83.00 price objective on shares of Lululemon Athletica in a research note on Tuesday, June 21st. Finally, Barclays PLC reissued an overweight rating and set a $85.00 price objective on shares of Lululemon Athletica in a research note on Sunday, September 4th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $71.57.
Shares of Lululemon Athletica (NASDAQ:LULU) traded up 4.307% during mid-day trading on Tuesday, hitting $58.725. The stock had a trading volume of 4,106,967 shares. The stock has a market cap of $8.05 billion, a P/E ratio of 30.131 and a beta of 0.60. The company’s 50 day moving average price is $63.72 and its 200 day moving average price is $69.03. Lululemon Athletica has a 12-month low of $43.14 and a 12-month high of $81.81.
Lululemon Athletica (NASDAQ:LULU) last released 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. The firm earned $514.52 million during the quarter. Lululemon Athletica had a net margin of 12.28% and a return on equity of 23.73%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. Equities research analysts predict that Lululemon Athletica will post $2.12 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its stake in Lululemon Athletica by 2.5% in the first quarter. Legal & General Group Plc now owns 403,261 shares of the apparel retailer’s stock valued at $27,305,000 after buying an additional 9,987 shares in the last quarter. Geode Capital Management LLC raised its stake in Lululemon Athletica by 9.2% in the first quarter. Geode Capital Management LLC now owns 765,820 shares of the apparel retailer’s stock valued at $51,825,000 after buying an additional 64,523 shares in the last quarter. RS Investment Management Co. LLC bought a new stake in Lululemon Athletica during the second quarter valued at about $22,853,000. State Street Corp raised its stake in Lululemon Athletica by 3.7% in the first quarter. State Street Corp now owns 2,036,631 shares of the apparel retailer’s stock valued at $137,900,000 after buying an additional 72,362 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in Lululemon Athletica by 128.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,360 shares of the apparel retailer’s stock valued at $100,000 after buying an additional 765 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.
About Lululemon Athletica
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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