Wedbush Starts Stock Coverage on Lululemon (LULU)
Analysts at Wedbush initiated coverage on shares of Lululemon (NASDAQ: LULU) in a research report issued to clients and investors on Tuesday. The firm set an “outperform” rating and a $90.00 price target on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at KeyBanc (NYSE: KEY) downgraded shares of Lululemon from a “buy” rating to a “hold” rating in a research note to investors on Friday, May 25th. They noted that the move was a valuation call. Separately, analysts at Nomura (NYSE: NMR) reiterated a “neutral” rating on shares of Lululemon in a research note to investors on Monday, May 14th. Finally, analysts at Auriga reiterated a “buy” rating on shares of Lululemon in a research note to investors on Thursday, April 12nd.
Lululemon opened at 74.57 on Tuesday. Lululemon has a 52-week low of $41.18 and a 52-week high of $77.13. The company has a market cap of $10.705 billion and a price-to-earnings ratio of 58.72.
Lululemon last posted its quarterly earnings results on Thursday, March 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The company’s revenue for the quarter was up 51.4% on a year-over-year basis. Analysts expect that Lululemon will post $0.33 EPS next quarter.
lululemon athletica inc. is a designer and retailer of technical athletic apparel operating primarily in North America and Australia.