Needham & Company LLC Increases Lululemon Athletica (LULU) Price Target to $79.00

Lululemon Athletica (NASDAQ:LULU) had its target price lifted by Needham & Company LLC from $71.00 to $79.00 in a research note issued on Thursday, December 7th, MarketBeat.com reports. The firm presently has a “buy” rating on the apparel retailer’s stock. Needham & Company LLC’s price target would indicate a potential upside of 0.52% from the company’s previous close.

Several other brokerages have also commented on LULU. Citigroup boosted their target price on shares of Lululemon Athletica to $78.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. KeyCorp reaffirmed a “hold” rating on shares of Lululemon Athletica in a research note on Friday, August 25th. Stifel Nicolaus lifted their price target on Lululemon Athletica from $66.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, December 7th. B. Riley lifted their price target on Lululemon Athletica from $55.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, December 7th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $71.00 price target on shares of Lululemon Athletica in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $70.51.

Lululemon Athletica (NASDAQ:LULU) traded down $1.02 during mid-day trading on Thursday, reaching $78.59. 1,304,073 shares of the company’s stock were exchanged, compared to its average volume of 2,132,556. Lululemon Athletica has a 12 month low of $47.26 and a 12 month high of $80.10. The firm has a market capitalization of $10,777.52, a PE ratio of 39.10, a P/E/G ratio of 2.51 and a beta of 0.19.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 10.96% and a return on equity of 22.52%. Lululemon Athletica’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the firm posted $0.50 EPS. sell-side analysts predict that Lululemon Athletica will post 2.48 EPS for the current fiscal year.

Lululemon Athletica announced that its board has initiated a stock buyback plan on Wednesday, December 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the apparel retailer to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Lululemon Athletica by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,850,066 shares of the apparel retailer’s stock valued at $468,413,000 after acquiring an additional 233,035 shares in the last quarter. BlackRock Inc. increased its position in Lululemon Athletica by 4.4% in the second quarter. BlackRock Inc. now owns 5,373,376 shares of the apparel retailer’s stock worth $320,629,000 after buying an additional 228,068 shares during the period. HS Management Partners LLC increased its position in Lululemon Athletica by 36.4% in the second quarter. HS Management Partners LLC now owns 2,775,486 shares of the apparel retailer’s stock worth $165,613,000 after buying an additional 741,200 shares during the period. Janus Henderson Group PLC increased its position in Lululemon Athletica by 16,053.2% in the second quarter. Janus Henderson Group PLC now owns 2,614,550 shares of the apparel retailer’s stock worth $156,010,000 after buying an additional 2,598,364 shares during the period. Finally, Eaton Vance Management acquired a new stake in Lululemon Athletica in the second quarter worth $126,967,000. 79.31% of the stock is currently owned by institutional investors and hedge funds.

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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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