Robert W. Baird Reiterates Outperform Rating for Lululemon Athletica (NASDAQ:LULU)

Robert W. Baird reiterated their outperform rating on shares of Lululemon Athletica (NASDAQ:LULU) in a report issued on Thursday morning, Benzinga reports. Robert W. Baird currently has a $470.00 price objective on the apparel retailer’s stock.

Several other research firms also recently commented on LULU. Wells Fargo & Company decreased their price objective on Lululemon Athletica from $425.00 to $350.00 and set an equal weight rating on the stock in a report on Thursday, June 6th. JPMorgan Chase & Co. decreased their price objective on Lululemon Athletica from $457.00 to $338.00 and set an overweight rating on the stock in a report on Thursday. BMO Capital Markets decreased their price objective on Lululemon Athletica from $420.00 to $384.00 and set a market perform rating on the stock in a report on Thursday, June 6th. The Goldman Sachs Group decreased their price objective on Lululemon Athletica from $521.00 to $463.00 and set a buy rating on the stock in a report on Friday, May 24th. Finally, HSBC upgraded Lululemon Athletica from a hold rating to a buy rating and lifted their price objective for the stock from $405.00 to $425.00 in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $416.26.

Lululemon Athletica Stock Up 2.5 %

NASDAQ LULU opened at $253.50 on Thursday. The stock’s 50-day simple moving average is $300.18 and its two-hundred day simple moving average is $376.57. Lululemon Athletica has a twelve month low of $245.59 and a twelve month high of $516.39. The company has a market capitalization of $31.69 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.26 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the business posted $2.28 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities analysts expect that Lululemon Athletica will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has approved a share repurchase program on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Lululemon Athletica

Hedge funds have recently made changes to their positions in the stock. Valley National Advisers Inc. boosted its position in shares of Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Tidemark LLC purchased a new position in Lululemon Athletica in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new position in Lululemon Athletica in the 4th quarter worth approximately $26,000. Benjamin Edwards Inc. raised its holdings in Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 44 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in Lululemon Athletica in the 1st quarter worth approximately $29,000. 85.20% of the stock is owned by institutional investors.

About Lululemon Athletica

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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.