Lululemon Athletica inc. (NASDAQ:LULU) – Research analysts at SunTrust Banks upped their FY2018 earnings per share (EPS) estimates for shares of Lululemon Athletica in a report issued on Monday. SunTrust Banks analyst P. Quintiliano now expects that the apparel retailer will post earnings of $2.53 per share for the year, up from their previous estimate of $2.48. SunTrust Banks currently has a “Buy” rating and a $90.00 price target on the stock. SunTrust Banks also issued estimates for Lululemon Athletica’s Q4 2018 earnings at $1.27 EPS and FY2019 earnings at $2.96 EPS.
Several other analysts have also recently commented on LULU. Zacks Investment Research upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Monday, September 18th. Canaccord Genuity restated a “sell” rating and set a $43.00 target price on shares of Lululemon Athletica in a report on Friday, September 22nd. Robert W. Baird restated a “buy” rating and set a $72.00 target price on shares of Lululemon Athletica in a report on Wednesday, October 4th. Oppenheimer reiterated an “outperform” rating and issued a $68.00 price target on shares of Lululemon Athletica in a report on Tuesday, October 10th. Finally, Needham & Company LLC set a $69.00 price target on Lululemon Athletica and gave the company a “buy” rating in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Lululemon Athletica has an average rating of “Hold” and an average price target of $72.95.
Shares of Lululemon Athletica (NASDAQ:LULU) traded down $0.15 during mid-day trading on Wednesday, hitting $78.84. The stock had a trading volume of 1,223,492 shares, compared to its average volume of 1,698,432. The company has a market capitalization of $10,670.00, a PE ratio of 39.22, a PEG ratio of 2.51 and a beta of 0.19. Lululemon Athletica has a 12 month low of $47.26 and a 12 month high of $81.92.
Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 EPS for the quarter, topping the consensus estimate of $0.52 by $0.04. The company had revenue of $619.00 million for the quarter, compared to analysts’ expectations of $610.56 million. Lululemon Athletica had a return on equity of 22.52% and a net margin of 10.96%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share.
Lululemon Athletica announced that its board has approved a share buyback program on Wednesday, December 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of LULU. Schwab Charles Investment Management Inc. boosted its holdings in Lululemon Athletica by 10.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 408,343 shares of the apparel retailer’s stock worth $24,366,000 after buying an additional 37,047 shares during the last quarter. Comerica Bank boosted its holdings in Lululemon Athletica by 1.0% during the second quarter. Comerica Bank now owns 11,264 shares of the apparel retailer’s stock worth $699,000 after buying an additional 115 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Lululemon Athletica by 847.8% during the second quarter. Principal Financial Group Inc. now owns 147,780 shares of the apparel retailer’s stock worth $8,818,000 after buying an additional 132,188 shares during the last quarter. CIBC World Markets Inc. raised its position in shares of Lululemon Athletica by 19.0% during the second quarter. CIBC World Markets Inc. now owns 13,265 shares of the apparel retailer’s stock worth $792,000 after purchasing an additional 2,122 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Lululemon Athletica by 66.3% during the second quarter. Franklin Resources Inc. now owns 6,870 shares of the apparel retailer’s stock worth $409,000 after purchasing an additional 2,740 shares during the period. Hedge funds and other institutional investors own 79.31% of the company’s stock.
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.
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