Lululemon Athletica Inc. (LULU) Upgraded to Hold at Zacks Investment Research
According to Zacks, “Lululemon remains prone to unfavorable currency movements, which also played spoilsport in the fiscal second quarter 2016. Despite a heartening outlook for the fiscal and the third quarter, the persistence of currency woes can hurt future results. Moreover, the fading popularity of athleisure wear is likely to take a toll on the company’s performance as denims are back in vogue with new styles and patterns attracting shoppers. Intense competition from other players also remains a headwind. However, estimates have been stable lately, ahead of the company's third quarter earnings release. Also, Lululemon exhibits immense long-term growth opportunity based on its potential to expand square footage and enhance its business globally. The company’s new strategy that outlines four major areas of growth, aimed at doubling revenue and more than doubling earnings by 2020, also bodes well.”
Several other research analysts have also commented on the stock. KeyCorp lifted their price target on shares of Lululemon Athletica from $85.00 to $89.00 and gave the company an overweight rating in a report on Thursday, August 11th. Telsey Advisory Group lifted their price target on shares of Lululemon Athletica from $82.00 to $92.00 and gave the company an outperform rating in a report on Monday, August 15th. Jefferies Group reaffirmed a buy rating on shares of Lululemon Athletica in a report on Monday, August 1st. MKM Partners reaffirmed a buy rating and issued a $90.00 price target (up from $82.00) on shares of Lululemon Athletica in a report on Tuesday, August 30th. Finally, Credit Suisse Group AG reaffirmed an outperform rating and issued a $76.00 price target on shares of Lululemon Athletica in a report on Monday, August 29th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Lululemon Athletica currently has an average rating of Hold and an average target price of $70.45.
Shares of Lululemon Athletica (NASDAQ:LULU) opened at 57.21 on Monday. The stock has a market capitalization of $7.84 billion, a PE ratio of 29.35 and a beta of 0.46. The stock has a 50 day moving average of $56.95 and a 200-day moving average of $67.46. Lululemon Athletica has a one year low of $44.62 and a one year high of $81.81.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, September 1st. The apparel retailer reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Lululemon Athletica had a net margin of 12.28% and a return on equity of 23.73%. The firm had revenue of $514.52 million for the quarter. During the same period last year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. Equities analysts predict that Lululemon Athletica will post $2.13 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of LULU. RS Investment Management Co. LLC purchased a new stake in Lululemon Athletica during the second quarter valued at $22,853,000. Mycio Wealth Partners LLC raised its stake in shares of Lululemon Athletica by 0.6% in the second quarter. Mycio Wealth Partners LLC now owns 1,972 shares of the apparel retailer’s stock worth $146,000 after buying an additional 12 shares in the last quarter. Columbus Circle Investors raised its stake in shares of Lululemon Athletica by 32.9% in the second quarter. Columbus Circle Investors now owns 414,565 shares of the apparel retailer’s stock worth $30,620,000 after buying an additional 102,547 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in shares of 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 worth $100,000 after buying an additional 765 shares in the last quarter. Finally, D L Carlson Investment Group Inc. raised its stake in shares of Lululemon Athletica by 40.2% in the second quarter. D L Carlson Investment Group Inc. now owns 51,205 shares of the apparel retailer’s stock worth $3,782,000 after buying an additional 14,675 shares in the last quarter. 91.36% of the stock is currently owned by institutional investors and hedge funds.
Lululemon Athletica Company Profile
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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