Lululemon Athletica (NASDAQ:LULU) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Lululemon Athletica (NASDAQ:LULU) in a research report sent to investors on Tuesday morning, TipRanks reports. The brokerage issued a buy rating and a $345.00 target price on the apparel retailer’s stock.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Lululemon Athletica from $283.00 to $334.00 and gave the stock an overweight rating in a report on Friday, June 12th. Bank of America reaffirmed a buy rating and issued a $340.00 price objective on shares of Lululemon Athletica in a research note on Tuesday. Zacks Investment Research lowered shares of Lululemon Athletica from a buy rating to a hold rating and set a $320.00 price objective on the stock. in a research note on Tuesday, June 23rd. Morgan Stanley upped their price objective on shares of Lululemon Athletica from $296.00 to $306.00 and gave the company an equal weight rating in a research note on Wednesday, June 17th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reduced their price objective on shares of Lululemon Athletica from $360.00 to $348.00 and set an outperform rating on the stock in a research note on Friday, June 12th. Twelve research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $306.22.

LULU opened at $312.01 on Tuesday. Lululemon Athletica has a fifty-two week low of $128.85 and a fifty-two week high of $324.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.68 and a quick ratio of 1.69. The firm has a market capitalization of $37.70 billion, a price-to-earnings ratio of 70.59, a PEG ratio of 3.61 and a beta of 1.05. The company’s 50 day moving average price is $288.51 and its two-hundred day moving average price is $238.44.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, June 11th. The apparel retailer reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). Lululemon Athletica had a return on equity of 33.27% and a net margin of 15.01%. The business had revenue of $651.96 million for the quarter, compared to the consensus estimate of $695.98 million. During the same period in the previous year, the firm earned $0.74 earnings per share. The company’s revenue was down 16.7% compared to the same quarter last year. As a group, equities research analysts predict that Lululemon Athletica will post 4.37 EPS for the current year.

In other news, Director Dennis J. Wilson sold 135,836 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $220.86, for a total value of $30,000,738.96. Following the completion of the sale, the director now owns 3,852 shares in the company, valued at approximately $850,752.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dennis J. Wilson sold 89,455 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $223.58, for a total transaction of $20,000,348.90. Following the completion of the sale, the director now owns 3,852 shares of the company’s stock, valued at approximately $861,230.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 483,883 shares of company stock worth $99,999,851. 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. State Street Corp grew its stake in shares of Lululemon Athletica by 4.5% in the 1st quarter. State Street Corp now owns 2,874,929 shares of the apparel retailer’s stock worth $544,943,000 after acquiring an additional 123,523 shares in the last quarter. Cunning Capital Partners LP bought a new position in Lululemon Athletica during the first quarter valued at about $967,000. Guggenheim Capital LLC grew its position in Lululemon Athletica by 5.8% during the first quarter. Guggenheim Capital LLC now owns 44,964 shares of the apparel retailer’s stock valued at $8,523,000 after buying an additional 2,462 shares during the period. Coldstream Capital Management Inc. grew its position in Lululemon Athletica by 41.6% during the first quarter. Coldstream Capital Management Inc. now owns 2,398 shares of the apparel retailer’s stock valued at $454,000 after buying an additional 705 shares during the period. Finally, National Pension Service grew its position in Lululemon Athletica by 2.2% during the first quarter. National Pension Service now owns 182,626 shares of the apparel retailer’s stock valued at $34,617,000 after buying an additional 3,978 shares during the period. Hedge funds and other institutional investors own 83.08% 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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Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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