Lululemon Athletica inc. (NASDAQ:LULU) shares were up 0.18% on Thursday when approximately 925,073.00 shares were traded, against the average daily trading volume of 1.55M. Analysts at Credit Agricole recently upgraded the stock to Underperform from Buy. Lululemon Athletica inc. (NASDAQ:LULU) has a consensus Strong buy rating, according to Zacks Investment Research. 1 analyst has rated the stock with a sell rating, 10 have assigned a hold rating, Zero says it’s a buy, and 16 have assigned a strong buy rating to the company.
Analysts have a consensus target price of $73.34 in the 12-month period. The price objective is 10.25% higher than the recent closing price of $66.52. The 52-week price range is $54.00-$81.81 and the company has a market capitalization of $9.12 billion.
Lululemon Athletica inc. (LULU) on January 9, 2017 announced that the Company is updating its net revenue and earnings guidance for the fourth quarter of fiscal 2016 ending January 29, 2017.
For the fourth quarter, we now anticipate that net revenue will be in the range of $775 million to $785 million based on a total comparable sales increase in the mid-single digits on a constant dollar basis. This compares to our previous guidance of net revenue in the range of $765 million to $785 million for the fourth quarter based on a total comparable sales increase in the mid-single digits on a constant dollar basis.
We also now expect diluted earnings per share will be in the range of $0.99 to $1.01 for the fourth quarter. The previous EPS guidance for the fourth quarter was a range of $0.96 to $1.01. EPS guidance continues to assume 137.3 million diluted weighted-average shares outstanding and a 31.2% tax rate.
“We had a strong holiday season in both our store and digital channels driven by our assortment, operational execution and guest experience. Our entire team is excited about the momentum in the business and I am grateful to our global collective for their great work and enthusiasm. We look forward to 2017 as we continue to advance on our long term goals,” said Laurent Potdevin, CEO of lululemon.
Management will be meeting with analysts and investors and presenting at the ICR Conference in Orlando, Florida this week. The audio portion of the presentation will be webcast live at www.lululemon.com. The webcast can be found in the investor relations section of the Company’s website.