lululemon athletica (NASDAQ:LULU) had its target price lifted by Needham & Company LLC from $71.00 to $79.00 in a report released on Thursday morning, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the apparel retailer’s stock.

A number of other research firms have also recently commented on LULU. Wells Fargo & Company set a $70.00 target price on lululemon athletica and gave the company a hold rating in a research note on Thursday. Citigroup raised their target price on lululemon athletica to $78.00 and gave the company a buy rating in a research note on Thursday. Canaccord Genuity upgraded lululemon athletica from a sell rating to a hold rating and raised their target price for the company from $43.00 to $70.00 in a research note on Thursday. J P Morgan Chase & Co restated an overweight rating and issued a $79.00 target price on shares of lululemon athletica in a research note on Thursday. Finally, Stifel Nicolaus raised their target price on lululemon athletica from $66.00 to $75.00 and gave the company a hold rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. lululemon athletica presently has an average rating of Hold and a consensus price target of $70.21.

Shares of lululemon athletica (LULU) traded up $1.76 during mid-day trading on Thursday, hitting $73.77. The stock had a trading volume of 3,176,100 shares, compared to its average volume of 2,644,017. The company has a market cap of $9,987.06, a price-to-earnings ratio of 32.50, a P/E/G ratio of 2.68 and a beta of 0.19. lululemon athletica has a 12-month low of $47.26 and a 12-month high of $74.03.

lululemon athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.04. The firm had revenue of $619.00 million for the quarter, compared to analyst estimates of $610.56 million. lululemon athletica had a return on equity of 22.52% and a net margin of 10.96%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. equities analysts anticipate that lululemon athletica will post 2.48 earnings per share for the current fiscal year.

lululemon athletica declared that its board has authorized a stock buyback program on Wednesday, December 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of the company. Comerica Bank raised its stake in shares of lululemon athletica by 1.0% in the second quarter. Comerica Bank now owns 11,264 shares of the apparel retailer’s stock worth $699,000 after purchasing an additional 115 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of lululemon athletica by 5.9% in the second quarter. Suntrust Banks Inc. now owns 4,239 shares of the apparel retailer’s stock worth $252,000 after purchasing an additional 237 shares during the last quarter. Bender Robert & Associates raised its stake in shares of lululemon athletica by 0.4% in the second quarter. Bender Robert & Associates now owns 84,141 shares of the apparel retailer’s stock worth $5,021,000 after purchasing an additional 302 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of lululemon athletica by 39.7% in the second quarter. Global X Management Co. LLC now owns 2,532 shares of the apparel retailer’s stock worth $151,000 after purchasing an additional 719 shares during the last quarter. Finally, Scotia Capital Inc. raised its stake in shares of lululemon athletica by 23.0% in the second quarter. Scotia Capital Inc. now owns 5,221 shares of the apparel retailer’s stock worth $311,000 after purchasing an additional 978 shares during the last quarter. Hedge funds and other institutional investors own 79.45% of the company’s stock.

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About lululemon athletica

lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.

Analyst Recommendations for lululemon athletica (NASDAQ:LULU)

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