lululemon athletica (LULU) to Repurchase $200.00 million in Outstanding Stock

lululemon athletica (NASDAQ:LULU) declared that its board has authorized a share buyback plan, which authorizes the company to buyback $200.00 million in shares on Wednesday, December 6th, EventVestor reports. This buyback authorization authorizes the apparel retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

lululemon athletica (LULU) opened at $72.01 on Friday. The stock has a market capitalization of $8,983.88, a price-to-earnings ratio of 30.44, a PEG ratio of 2.46 and a beta of 0.19. lululemon athletica has a 52 week low of $47.26 and a 52 week high of $73.84.

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

LULU has been the subject of a number of analyst reports. Canaccord Genuity set a $41.00 price objective on lululemon athletica and gave the company a “sell” rating in a research report on Tuesday, August 29th. Vetr raised lululemon athletica from a “buy” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a research report on Wednesday, August 30th. Cowen reaffirmed a “buy” rating and set a $68.00 price objective on shares of lululemon athletica in a research report on Friday, November 3rd. Nomura reaffirmed a “buy” rating and set a $67.00 price objective (up previously from $65.00) on shares of lululemon athletica in a research report on Friday, September 1st. Finally, Citigroup raised lululemon athletica from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $61.50 to $60.09 in a research report on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $69.65.

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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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