Lululemon Athletica (NASDAQ:LULU) was downgraded by Jefferies Financial Group to a “hold” rating in a research note issued on Thursday, The Fly reports. They currently have a $175.00 price target on the apparel retailer’s stock, up from their previous price target of $156.00. Jefferies Financial Group’s target price suggests a potential downside of 0.97% from the stock’s previous close. Jefferies Financial Group also issued estimates for Lululemon Athletica’s Q2 2020 earnings at $0.88 EPS, Q3 2020 earnings at $0.87 EPS, FY2020 earnings at $4.58 EPS and FY2021 earnings at $5.45 EPS.
Several other research analysts have also weighed in on LULU. JPMorgan Chase & Co. upped their target price on Lululemon Athletica from $197.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday. Deutsche Bank upped their target price on Lululemon Athletica from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Co set a $210.00 target price on Lululemon Athletica and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus upped their target price on Lululemon Athletica from $187.00 to $209.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $205.00 target price (up from $200.00) on shares of Lululemon Athletica in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $187.33.
Shares of LULU stock opened at $176.71 on Thursday. Lululemon Athletica has a fifty-two week low of $110.71 and a fifty-two week high of $182.89. The stock has a market capitalization of $22.38 billion, a price-to-earnings ratio of 46.02, a PEG ratio of 2.02 and a beta of 0.60.
Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the apparel retailer to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, COO Stuart Haselden sold 49,319 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $164.62, for a total transaction of $8,118,893.78. Following the completion of the sale, the chief operating officer now owns 24,685 shares in the company, valued at approximately $4,063,644.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dennis J. Wilson sold 288,856 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $155.79, for a total value of $45,000,876.24. Following the sale, the director now owns 3,852 shares of the company’s stock, valued at approximately $600,103.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 519,344 shares of company stock valued at $79,873,942. 0.32% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in LULU. Oregon Public Employees Retirement Fund boosted its stake in Lululemon Athletica by 11,283.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 4,023,801 shares during the period. Jennison Associates LLC boosted its stake in Lululemon Athletica by 144.2% during the 1st quarter. Jennison Associates LLC now owns 6,321,172 shares of the apparel retailer’s stock valued at $1,035,850,000 after purchasing an additional 3,732,291 shares during the period. Norges Bank bought a new stake in Lululemon Athletica during the 4th quarter valued at approximately $161,284,000. Vanguard Group Inc boosted its stake in Lululemon Athletica by 10.6% during the 3rd quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock valued at $1,529,244,000 after purchasing an additional 899,080 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Lululemon Athletica during the 1st quarter valued at approximately $107,056,000. Hedge funds and other institutional investors own 80.78% 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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