Lululemon Athletica (LULU) Downgraded by BidaskClub to “Hold”
Lululemon Athletica (NASDAQ:LULU) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
Other equities research analysts have also issued reports about the stock. Citigroup upgraded shares of Lululemon Athletica from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $61.50 to $60.09 in a report on Friday, October 20th. SunTrust Banks set a $69.00 price objective on shares of Lululemon Athletica and gave the company a “buy” rating in a report on Monday, October 16th. Needham & Company LLC set a $69.00 price objective on shares of Lululemon Athletica and gave the company a “buy” rating in a report on Monday, October 16th. Robert W. Baird restated a “buy” rating and issued a $72.00 price objective on shares of Lululemon Athletica in a report on Wednesday, October 4th. Finally, Zacks Investment Research upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Lululemon Athletica has an average rating of “Hold” and an average target price of $72.95.
Shares of Lululemon Athletica (LULU) traded up $1.22 on Tuesday, hitting $77.92. 1,254,600 shares of the stock were exchanged, compared to its average volume of 1,642,382. Lululemon Athletica has a fifty-two week low of $47.26 and a fifty-two week high of $81.92. The firm has a market cap of $10,500.00, a price-to-earnings ratio of 38.77, a price-to-earnings-growth ratio of 2.36 and a beta of 0.19.
Lululemon Athletica declared that its board has approved a share repurchase plan on Wednesday, December 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of LULU. IHT Wealth Management LLC increased its stake in Lululemon Athletica by 591.0% in the second quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after purchasing an additional 1,182 shares during the period. Zions Bancorporation increased its stake in Lululemon Athletica by 183.2% in the third quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after purchasing an additional 1,356 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in Lululemon Athletica in the third quarter valued at $156,000. Oakbrook Investments LLC acquired a new position in Lululemon Athletica in the third quarter valued at $202,000. Finally, Mackenzie Financial Corp acquired a new position in Lululemon Athletica in the third quarter valued at $232,000. Institutional investors own 79.42% of the company’s stock.
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Lululemon Athletica Company Profile
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.
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