Share Repurchase Program Declared by Lululemon Athletica (NASDAQ:LULU)
Lululemon Athletica (NASDAQ:LULU – Get Free Report) declared that its board has initiated a share repurchase plan on Thursday, December 7th, RTT News reports. The company plans to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to buy up to 1.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the stock. KeyCorp boosted their price target on shares of Lululemon Athletica from $425.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, September 1st. Telsey Advisory Group restated an “outperform” rating and set a $450.00 price objective on shares of Lululemon Athletica in a research report on Thursday, September 21st. Raymond James cut shares of Lululemon Athletica from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $440.00 to $495.00 in a research note on Tuesday. Sanford C. Bernstein upgraded shares of Lululemon Athletica from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $328.00 to $366.00 in a research note on Tuesday, September 5th. Finally, Morgan Stanley raised their price objective on shares of Lululemon Athletica from $424.00 to $437.00 and gave the company an “overweight” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $450.57.
Get Our Latest Stock Analysis on Lululemon Athletica
Lululemon Athletica Trading Up 0.9 %
NASDAQ:LULU traded up $4.00 during mid-day trading on Thursday, reaching $464.67. 3,218,662 shares of the stock were exchanged, compared to its average volume of 1,741,621. The business has a fifty day moving average price of $409.64 and a 200 day moving average price of $387.70. The firm has a market capitalization of $59.04 billion, a PE ratio of 58.82, a PEG ratio of 2.07 and a beta of 1.35. Lululemon Athletica has a 1-year low of $286.58 and a 1-year high of $467.63.
Lululemon Athletica (NASDAQ:LULU – Get Free Report) last released its earnings results on Thursday, December 7th. The apparel retailer reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.25. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Lululemon Athletica had a return on equity of 44.47% and a net margin of 11.40%. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.00 EPS. On average, sell-side analysts forecast that Lululemon Athletica will post 12.15 earnings per share for the current year.
Lululemon Athletica Company Profile (Get Free Report)
Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Lululemon Athletica, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Lululemon Athletica wasn’t on the list.
While Lululemon Athletica currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can.
Original: MarketBeat News Feed: Share Repurchase Program Declared by Lululemon Athletica (NASDAQ:LULU)