Lululemon Athletica (LULU) Price Target Cut to $89.00 by Analysts at Deutsche Bank
Lululemon Athletica (NASDAQ:LULU) had its price objective decreased by Deutsche Bank from $95.00 to $89.00 in a research note published on Thursday. Deutsche Bank currently has a neutral rating on the apparel retailer’s stock.
Several other analysts also recently commented on LULU. B. Riley reaffirmed a neutral rating on shares of Lululemon Athletica in a research note on Wednesday, November 1st. Bank of America raised Lululemon Athletica to a buy rating and raised their price objective for the stock from $80.00 to $89.00 in a research note on Tuesday. Citigroup downgraded Lululemon Athletica from a buy rating to a neutral rating and set a $88.00 price objective on the stock. in a research note on Tuesday. Telsey Advisory Group lifted their price target on Lululemon Athletica from $84.00 to $92.00 and gave the company an outperform rating in a research note on Tuesday. Finally, Canaccord Genuity set a $43.00 price target on Lululemon Athletica and gave the company a sell rating in a research note on Monday, October 16th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $71.68.
Shares of Lululemon Athletica (NASDAQ LULU) traded down $0.55 during trading on Thursday, reaching $79.30. The company had a trading volume of 1,181,778 shares, compared to its average volume of 2,000,000. The firm has a market cap of $10,730.00, a P/E ratio of 39.45, a PEG ratio of 2.48 and a beta of 0.19. Lululemon Athletica has a twelve month low of $47.26 and a twelve month high of $80.46.
Lululemon Athletica announced that its board has initiated a share repurchase plan on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Several large investors have recently added to or reduced their stakes in LULU. IHT Wealth Management LLC increased its position in shares of 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 acquiring an additional 1,182 shares during the last quarter. Zions Bancorporation increased its position in shares of 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 acquiring an additional 1,356 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Lululemon Athletica in the third quarter valued at about $156,000. Oakbrook Investments LLC acquired a new stake in shares of Lululemon Athletica in the third quarter valued at about $202,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Lululemon Athletica in the third quarter valued at about $232,000. 79.31% of the stock is currently owned by institutional investors and hedge funds.
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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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