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LULU, MJN, AEO, PIR Hit 52-Week Highs (Update 1)

Stocks in this article: AEO PIR LULU MJN

Updated to include Lululemon and Mead Johnson Nutrition

NEW YORK ( TheStreet) -- Retailers American Eagle Outfitters (AEO), Lululemon (LULU) and Pier 1 Imports (PIR) as well as food products company Mead Johnson Nutrition (MJN) hit 52-week highs on Thursday.

All of the stocks received buy ratings at TheStreet Ratings.


The retailer reported Thursday fourth-quarter earnings of $73.52 million, or 51 cents a share, up from year-ago earnings of $55 million, or 39 cents a share. Analysts were anticipating earnings of 49 cents.

"With average annual comp store productivity surpassing $2,000 per square foot and online sales more than doubling in the quarter, it is clear that LULU's customer base is rapidly growing and new product flows are very well received," D.A. Davidson analysts wrote in a March 22 report. "While 37 store openings and initial gross margin guidance were both slightly lower than expected, the overall takeaway from guidance was positive and we expect will move up over the year. Our primary concern remains valuation (45x 2012 P/E), which leaves little room for comp deceleration and makes us hesitant to recommend accumulating shares at current levels."

Shares of Lululemon hit a 52-week high on Thursday of $75.89. The stock's 52-week low of $38.18 was set one year ago.

Lululemon has an estimated price-to-earnings ratio for next year of 36.92 times; the average for clothing and accessories companies is 24.74. For comparison, Gildan Activewear (GIL) has a forward P/E of 12.55.

Thirteen of the 23 analysts who cover Lululemon rated it buy. Nine analysts gave the stock a hold rating and one rated it sell.

TheStreet Ratings gives Lululemon a B+ grade with a buy rating and a $97.44 price target. The stock has risen 63.12% year to date.

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