Lululemon Athletica (NASDAQ:LULU) Upgraded by HSBC to Buy

HSBC upgraded shares of Lululemon Athletica (NASDAQ:LULUFree Report) from a hold rating to a buy rating in a research note published on Thursday, MarketBeat.com reports. HSBC currently has $425.00 price objective on the apparel retailer’s stock.

LULU has been the topic of a number of other reports. Oppenheimer reissued an outperform rating and issued a $445.00 price target (down from $540.00) on shares of Lululemon Athletica in a research report on Friday, April 5th. Bank of America cut their price objective on shares of Lululemon Athletica from $530.00 to $430.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. Guggenheim reduced their price target on shares of Lululemon Athletica from $550.00 to $525.00 and set a buy rating for the company in a research note on Friday, March 22nd. Citigroup lowered their target price on Lululemon Athletica from $500.00 to $415.00 and set a buy rating on the stock in a report on Wednesday, May 29th. Finally, Wells Fargo & Company reduced their price target on Lululemon Athletica from $450.00 to $425.00 and set an equal weight rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica currently has an average rating of Moderate Buy and an average price target of $437.55.

Check Out Our Latest Research Report on LULU

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $323.03 on Thursday. Lululemon Athletica has a 52-week low of $293.03 and a 52-week high of $516.39. The firm has a market capitalization of $40.71 billion, a P/E ratio of 26.46, a P/E/G ratio of 1.46 and a beta of 1.27. The stock has a 50 day moving average price of $341.94 and a 200-day moving average price of $423.64.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last posted its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.28 earnings per share. On average, equities analysts forecast that Lululemon Athletica will post 14.08 EPS for the current fiscal year.

Insider Activity

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were bought at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now directly owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Valley National Advisers Inc. grew its position in shares of Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Tidemark LLC acquired a new stake in Lululemon Athletica in the fourth quarter worth about $26,000. Scarborough Advisors LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth $26,000. Benjamin Edwards Inc. increased its holdings in shares of Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 44 shares during the period. Finally, Riverview Trust Co purchased a new position in Lululemon Athletica during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

About Lululemon Athletica

(Get Free Report)

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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.

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Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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