lululemon athletica (LULU) Given New $79.00 Price Target at Needham & Company LLC

lululemon athletica (NASDAQ:LULU) had its price target increased by stock analysts at Needham & Company LLC from $71.00 to $79.00 in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the apparel retailer’s stock. Needham & Company LLC’s price target points to a potential upside of 16.76% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Citigroup lifted their price target on shares of lululemon athletica to $78.00 and gave the company a “buy” rating in a report on Thursday. KeyCorp reissued a “hold” rating on shares of lululemon athletica in a report on Friday, August 25th. Stifel Nicolaus lifted their price target on shares of lululemon athletica from $66.00 to $75.00 and gave the company a “hold” rating in a report on Thursday. B. Riley lifted their price target on shares of lululemon athletica from $55.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday. Finally, J P Morgan Chase & Co reissued a “buy” rating and set a $71.00 price target on shares of lululemon athletica in a report on Friday, September 1st. Four analysts have rated the stock with a sell rating, eighteen have given 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 a consensus price target of $67.53.

Shares of lululemon athletica (NASDAQ LULU) opened at $67.66 on Thursday. The stock has a market cap of $8,983.88, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 2.46 and a beta of 0.19. lululemon athletica has a 12-month low of $47.26 and a 12-month high of $72.70.

lululemon athletica (NASDAQ:LULU) last released its quarterly earnings data on Wednesday, December 6th. The apparel retailer reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The company had revenue of $619.00 million during the quarter, compared to the consensus estimate of $610.56 million. lululemon athletica had a net margin of 11.68% and a return on equity of 22.51%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. equities research analysts forecast that lululemon athletica will post 2.43 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC acquired a new position in lululemon athletica during the third quarter valued at approximately $1,197,000. California Public Employees Retirement System boosted its holdings in shares of lululemon athletica by 0.8% in the third quarter. California Public Employees Retirement System now owns 216,882 shares of the apparel retailer’s stock valued at $13,501,000 after buying an additional 1,782 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of lululemon athletica by 152.5% in the third quarter. Cubist Systematic Strategies LLC now owns 19,331 shares of the apparel retailer’s stock valued at $1,203,000 after buying an additional 11,676 shares during the period. Zions Bancorporation boosted its holdings 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 buying an additional 1,356 shares during the period. Finally, Grandeur Peak Global Advisors LLC boosted its holdings in shares of lululemon athletica by 30.3% in the third quarter. Grandeur Peak Global Advisors LLC now owns 103,775 shares of the apparel retailer’s stock valued at $6,460,000 after buying an additional 24,150 shares during the period. Hedge funds and other institutional investors own 79.45% of the company’s stock.

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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.

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