Lululemon Athletica (NASDAQ:LULU) Now Covered by Analysts at HSBC

HSBC began coverage on shares of Lululemon Athletica (NASDAQ:LULU) in a research note released on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $500.00 target price on the apparel retailer’s stock.

Several other equities research analysts also recently commented on the company. Wedbush increased their price objective on Lululemon Athletica from $415.00 to $420.00 and gave the company a buy rating in a report on Friday, September 1st. Wells Fargo & Company increased their price objective on Lululemon Athletica from $425.00 to $445.00 and gave the company an overweight rating in a report on Friday, September 1st. BMO Capital Markets increased their price target on Lululemon Athletica from $355.00 to $376.00 and gave the company a market perform rating in a research note on Friday, September 1st. Barclays increased their price target on Lululemon Athletica from $430.00 to $480.00 and gave the company an overweight rating in a research note on Friday, September 1st. Finally, Raymond James increased their price target on Lululemon Athletica from $438.00 to $440.00 and gave the company a strong-buy rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica currently has an average rating of Moderate Buy and a consensus target price of $440.89.

Lululemon Athletica Stock Down 1.8 %

NASDAQ:LULU opened at $382.81 on Monday. Lululemon Athletica has a twelve month low of $277.50 and a twelve month high of $406.94. The business has a 50 day moving average price of $382.96 and a two-hundred day moving average price of $364.98. The company has a market cap of $48.64 billion, a P/E ratio of 48.46, a price-to-earnings-growth ratio of 1.72 and a beta of 1.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.17 billion. Lululemon Athletica had a return on equity of 44.47% and a net margin of 11.40%. The business’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 EPS. As a group, analysts anticipate that Lululemon Athletica will post 12.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michelle Sun Choe sold 27,981 shares of Lululemon Athletica stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $401.00, for a total transaction of $11,220,381.00. Following the sale, the insider now directly owns 3,892 shares of the company’s stock, valued at $1,560,692. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Hedge funds have recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Lululemon Athletica by 153,372.0% in 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. BlackRock Inc. increased its holdings in Lululemon Athletica by 4.3% in the first quarter. BlackRock Inc. now owns 7,775,942 shares of the apparel retailer’s stock worth $2,831,920,000 after purchasing an additional 323,518 shares in the last quarter. Jennison Associates LLC increased its holdings in Lululemon Athletica by 8.0% in the second quarter. Jennison Associates LLC now owns 4,781,168 shares of the apparel retailer’s stock worth $1,809,672,000 after purchasing an additional 353,349 shares in the last quarter. State Street Corp increased its holdings in Lululemon Athletica by 0.7% in the first quarter. State Street Corp now owns 2,633,648 shares of the apparel retailer’s stock worth $959,144,000 after purchasing an additional 18,147 shares in the last quarter. Finally, Edgewood Management LLC bought a new stake in Lululemon Athletica in the fourth quarter worth approximately $824,128,000. 91.50% of the stock is currently owned by institutional investors.

Lululemon Athletica Company Profile

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.