lululemon athletica inc. (NASDAQ:LULU) Receives “Buy” Rating from Needham & Company LLC

lululemon athletica inc. (NASDAQ:LULU)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued on Thursday, August 31st. They presently have a $67.00 price objective on the apparel retailer’s stock. Needham & Company LLC’s price objective points to a potential upside of 10.56% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Canaccord Genuity set a $41.00 price target on shares of lululemon athletica inc. and gave the company a “sell” rating in a report on Tuesday, August 29th. Vetr raised shares of lululemon athletica inc. from a “buy” rating to a “strong-buy” rating and set a $66.00 price target for the company in a report on Wednesday, August 30th. Robert W. Baird set a $70.00 price objective on lululemon athletica inc. and gave the stock a “buy” rating in a report on Tuesday, August 29th. Susquehanna Bancshares Inc boosted their price objective on lululemon athletica inc. from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, August 29th. Finally, KeyCorp restated a “hold” rating on shares of lululemon athletica inc. in a report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $65.68.

lululemon athletica inc. (NASDAQ LULU) opened at 60.60 on Thursday. The company’s 50-day moving average is $60.59 and its 200 day moving average is $57.17. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 29.25 and a beta of 0.22. lululemon athletica inc. has a one year low of $47.26 and a one year high of $72.70.

lululemon athletica inc. (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, August 31st. The apparel retailer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. lululemon athletica inc. had a net margin of 11.68% and a return on equity of 22.51%. The business had revenue of $581.10 million during the quarter, compared to the consensus estimate of $567.40 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts expect that lululemon athletica inc. will post $2.41 EPS for the current year.

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In other lululemon athletica inc. news, Director Glenn Murphy bought 97,728 shares of lululemon athletica inc. stock in a transaction dated Monday, June 26th. The stock was bought at an average cost of $55.50 per share, for a total transaction of $5,423,904.00. Following the purchase, the director now owns 100,344 shares of the company’s stock, valued at approximately $5,569,092. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB boosted its stake in lululemon athletica inc. by 21.8% in the 1st quarter. Xact Kapitalforvaltning AB now owns 17,832 shares of the apparel retailer’s stock valued at $925,000 after purchasing an additional 3,189 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of lululemon athletica inc. by 8.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 371,296 shares of the apparel retailer’s stock valued at $19,260,000 after acquiring an additional 28,686 shares during the period. CIBC World Markets Inc. lifted its position in shares of lululemon athletica inc. by 6.6% during the 1st quarter. CIBC World Markets Inc. now owns 11,143 shares of the apparel retailer’s stock valued at $578,000 after acquiring an additional 688 shares during the period. Stifel Financial Corp lifted its position in shares of lululemon athletica inc. by 49.1% during the 1st quarter. Stifel Financial Corp now owns 23,401 shares of the apparel retailer’s stock valued at $1,207,000 after acquiring an additional 7,701 shares during the period. Finally, Morgan Stanley lifted its position in shares of lululemon athletica inc. by 55.2% during the 1st quarter. Morgan Stanley now owns 821,041 shares of the apparel retailer’s stock valued at $42,587,000 after acquiring an additional 292,183 shares during the period. Institutional investors and hedge funds own 79.58% of the company’s stock.

About lululemon athletica inc.

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 inc. (NASDAQ:LULU)

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