Lululemon Athletica (NASDAQ:LULU) PT Raised to $339.00

Lululemon Athletica (NASDAQ:LULU – Get Rating) had its price objective raised by Morgan Stanley from $300.00 to $339.00 in a report published on Thursday morning, The Fly reports. Morgan Stanley currently has an equal weight rating on the apparel retailer’s stock.

Several other research analysts have also recently issued reports on the company. Jefferies Financial Group reduced their price objective on Lululemon Athletica from $420.00 to $340.00 in a research note on Wednesday, January 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on Lululemon Athletica from $428.00 to $423.00 and set a buy rating for the company in a research note on Thursday. Barclays raised their price objective on Lululemon Athletica from $410.00 to $441.00 and gave the stock an overweight rating in a research note on Thursday, March 31st. JPMorgan Chase & Co. reduced their price objective on Lululemon Athletica from $518.00 to $450.00 in a research note on Tuesday, January 11th. Finally, Credit Suisse Group reduced their price target on Lululemon Athletica from $465.00 to $450.00 and set an outperform rating for the company in a research report on Wednesday, March 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Buy and a consensus price target of $442.77.

Shares of NASDAQ LULU opened at $363.66 on Thursday. The company has a market cap of $46.52 billion, a PE ratio of 48.49, a P/E/G ratio of 2.10 and a beta of 1.34. The business has a 50-day simple moving average of $336.14 and a two-hundred day simple moving average of $376.76. Lululemon Athletica has a fifty-two week low of $278.00 and a fifty-two week high of $485.83.

Lululemon Athletica (NASDAQ:LULU – Get Rating) last issued its quarterly earnings results on Tuesday, March 29th. The apparel retailer reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.10. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Lululemon Athletica had a return on equity of 37.92% and a net margin of 15.59%. The company’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the company earned $2.58 earnings per share. On average, analysts expect that Lululemon Athletica will post 9.31 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a share buyback program on Tuesday, March 29th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Lululemon Athletica during the fourth quarter worth $393,224,000. Schroder Investment Management Group boosted its stake in Lululemon Athletica by 4,240.9% during the fourth quarter. Schroder Investment Management Group now owns 839,309 shares of the apparel retailer’s stock worth $328,548,000 after buying an additional 819,974 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in Lululemon Athletica by 2,475.7% during the third quarter. Lord Abbett & CO. LLC now owns 632,032 shares of the apparel retailer’s stock worth $255,784,000 after buying an additional 607,494 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Lululemon Athletica during the fourth quarter worth $144,078,000. Finally, Moors & Cabot Inc. acquired a new position in Lululemon Athletica during the third quarter worth $291,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Company Profile (Get Rating)

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. 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.

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