Lululemon Athletica inc. (NASDAQ:LULU) shot up 0% during mid-day trading on Wednesday . The stock traded as high as $81.83 and last traded at $81.22. 3,190,296 shares changed hands during mid-day trading, an increase of 81% from the average session volume of 1,763,848 shares. The stock had previously closed at $81.22.

Several research firms recently issued reports on LULU. B. Riley reissued a “neutral” rating on shares of Lululemon Athletica in a research report on Wednesday, November 1st. Canaccord Genuity set a $75.00 target price on shares of Lululemon Athletica and gave the stock a “hold” rating in a research report on Tuesday, February 6th. BidaskClub cut shares of Lululemon Athletica from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research cut shares of Lululemon Athletica from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Finally, Oppenheimer reissued an “outperform” rating and issued a $88.00 target price on shares of Lululemon Athletica in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.95.

The stock has a market capitalization of $11,000.00, a P/E ratio of 40.41, a PEG ratio of 1.97 and a beta of 0.26.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The business had revenue of $619.00 million during the quarter, compared to analyst estimates of $610.56 million. Lululemon Athletica had a net margin of 10.96% and a return on equity of 22.52%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. sell-side analysts predict that Lululemon Athletica inc. will post 2.53 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In related news, major shareholder Dennis J. Wilson sold 722,134 shares of Lululemon Athletica stock in a transaction on Monday, February 12th. The shares were sold at an average price of $77.47, for a total value of $55,943,720.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in LULU. Jennison Associates LLC bought a new stake in Lululemon Athletica during the third quarter valued at $37,996,000. Bank of New York Mellon Corp increased its stake in Lululemon Athletica by 132.6% during the third quarter. Bank of New York Mellon Corp now owns 1,014,384 shares of the apparel retailer’s stock valued at $63,146,000 after purchasing an additional 578,248 shares during the last quarter. Alliancebernstein L.P. increased its stake in Lululemon Athletica by 311.5% during the fourth quarter. Alliancebernstein L.P. now owns 691,777 shares of the apparel retailer’s stock valued at $54,367,000 after purchasing an additional 523,653 shares during the last quarter. Elephas Investment Management Ltd bought a new stake in Lululemon Athletica during the fourth quarter valued at $29,062,000. Finally, Prudential Financial Inc. increased its stake in Lululemon Athletica by 734.3% during the third quarter. Prudential Financial Inc. now owns 392,118 shares of the apparel retailer’s stock valued at $24,410,000 after purchasing an additional 345,120 shares during the last quarter. Hedge funds and other institutional investors own 79.58% 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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