Needham Maintains a Buy Rating on Lululemon Athletica (LULU)
In a report released today, Rick Patel from Needham maintained a Buy rating on Lululemon Athletica (LULU), with a price target of $225.00. The company’s shares closed last Monday at $200.80.
According to TipRanks.com, Patel is ranked 0 out of 5 stars with an average return of -15.9% and a 26.9% success rate. Patel covers the Services sector, focusing on stocks such as Designer Brands, Capri Holdings, and Ralph Lauren.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lululemon Athletica with a $236.29 average price target, representing a 19.9% upside. In a report issued on March 12, Cowen & Co. also maintained a Buy rating on the stock with a $241.00 price target.
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Lululemon Athletica’s market cap is currently $26.16B and has a P/E ratio of 45.00. The company has a Price to Book ratio of 15.53.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LULU in relation to earlier this year.
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lululemon athletica, Inc. engages in the designing, distributing and retail of athletic apparel and accessories. It company operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize in athletic wear for female youth. The Direct to Consumer segment is involved in e-commerce business. The company was founded by Dennis J. Wilson in 1998 and is headquartered in Vancouver, Canada.