Lululemon Athletica (NASDAQ:LULU) Given Buy Rating at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Lululemon Athletica (NASDAQ:LULU) in a report issued on Friday, Benzinga reports. Guggenheim currently has a $440.00 price target on the apparel retailer’s stock.

Several other research analysts also recently weighed in on LULU. JPMorgan Chase & Co. upped their price target on shares of Lululemon Athletica from $487.00 to $489.00 and gave the stock an overweight rating in a research report on Friday. Citigroup set a $450.00 target price on Lululemon Athletica and gave the company a buy rating in a research report on Friday. Oppenheimer lifted their price target on Lululemon Athletica from $400.00 to $450.00 and gave the stock an outperform rating in a research note on Friday. Barclays increased their price objective on Lululemon Athletica from $430.00 to $480.00 and gave the company an overweight rating in a research note on Friday. Finally, Stifel Nicolaus lifted their target price on shares of Lululemon Athletica from $460.00 to $463.00 and gave the stock a buy rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $435.69.

Lululemon Athletica Trading Up 6.0 %

Shares of LULU stock opened at $404.19 on Friday. The stock has a market cap of $51.36 billion, a P/E ratio of 54.04, a P/E/G ratio of 1.66 and a beta of 1.42. The stock has a 50 day moving average of $378.66 and a 200 day moving average of $358.80. Lululemon Athletica has a twelve month low of $277.50 and a twelve month high of $406.75.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.17 billion. Lululemon Athletica had a return on equity of 44.94% and a net margin of 11.24%. Lululemon Athletica’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.20 earnings per share. On average, research analysts predict that Lululemon Athletica will post 11.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds and other institutional investors have recently bought and sold shares of LULU. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Lululemon Athletica by 153,372.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 45,174,485 shares of the apparel retailer’s stock worth $17,098,543,000 after purchasing an additional 45,145,050 shares in the last quarter. Edgewood Management LLC acquired a new stake in Lululemon Athletica in the 4th quarter valued at about $824,128,000. Alliancebernstein L.P. boosted its stake in shares of Lululemon Athletica by 1,462.6% in the 2nd quarter. Alliancebernstein L.P. now owns 1,093,563 shares of the apparel retailer’s stock valued at $413,914,000 after buying an additional 1,023,578 shares during the period. D1 Capital Partners L.P. acquired a new position in shares of Lululemon Athletica during the first quarter worth about $279,637,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Lululemon Athletica during the first quarter worth approximately $278,751,000. 91.50% of the stock is currently owned by hedge funds and other institutional investors.

About Lululemon Athletica

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.