Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by research analysts at Bank of America from $185.00 to $193.00 in a research note issued on Tuesday, The Fly reports. The firm currently has a “buy” rating on the apparel retailer’s stock. Bank of America‘s price target would suggest a potential upside of 11.55% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Buckingham Research raised shares of Lululemon Athletica from a “neutral” rating to a “buy” rating in a report on Wednesday, January 9th. MKM Partners increased their price objective on shares of Lululemon Athletica from $177.00 to $179.00 and gave the company a “buy” rating in a report on Wednesday, January 16th. Stifel Nicolaus increased their price objective on shares of Lululemon Athletica from $152.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $186.00 price objective (up from $163.00) on shares of Lululemon Athletica in a report on Thursday, March 28th. Finally, BidaskClub lowered shares of Lululemon Athletica from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $168.56.
Lululemon Athletica stock opened at $173.02 on Tuesday. The company has a market capitalization of $22.69 billion, a P/E ratio of 45.06, a PEG ratio of 2.09 and a beta of 0.52. Lululemon Athletica has a 12-month low of $94.20 and a 12-month high of $174.64.
Lululemon Athletica declared that its board has approved a share repurchase plan on Wednesday, March 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the apparel retailer to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
In other news, insider Michelle Sun Choe sold 6,170 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $170.92, for a total transaction of $1,054,576.40. Following the completion of the transaction, the insider now directly owns 11,294 shares in the company, valued at approximately $1,930,370.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Celeste Burgoyne sold 19,199 shares of the stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $166.54, for a total value of $3,197,401.46. Following the transaction, the executive vice president now owns 18,019 shares of the company’s stock, valued at $3,000,884.26. The disclosure for this sale can be found here. Insiders have sold a total of 2,142,883 shares of company stock valued at $316,468,220 over the last quarter. Corporate insiders own 0.32% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Optimum Investment Advisors lifted its position in Lululemon Athletica by 2,052.2% in the fourth quarter. Optimum Investment Advisors now owns 1,442 shares of the apparel retailer’s stock worth $175,000 after buying an additional 1,375 shares during the last quarter. Jennison Associates LLC bought a new stake in Lululemon Athletica in the fourth quarter worth $314,834,000. Meeder Asset Management Inc. lifted its position in Lululemon Athletica by 9.2% in the fourth quarter. Meeder Asset Management Inc. now owns 8,070 shares of the apparel retailer’s stock worth $981,000 after buying an additional 680 shares during the last quarter. Gateway Investment Advisers LLC lifted its position in Lululemon Athletica by 60.3% in the fourth quarter. Gateway Investment Advisers LLC now owns 115,386 shares of the apparel retailer’s stock worth $14,032,000 after buying an additional 43,389 shares during the last quarter. Finally, First Foundation Advisors bought a new stake in Lululemon Athletica in the fourth quarter worth $1,216,000. Hedge funds and other institutional investors own 80.47% of the company’s stock.
Lululemon Athletica Company Profile
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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