Lululemon Athletica (NASDAQ:LULU) Receives New Coverage from Analysts at Redburn Partners

Posted by on Mar 20th, 2023

Redburn Partners initiated coverage on shares of Lululemon Athletica (NASDAQ:LULU – Get Rating) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued a sell rating and a $257.00 target price on the apparel retailer’s stock.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company raised shares of Lululemon Athletica from an equal weight rating to an overweight rating and upped their price target for the company from $360.00 to $380.00 in a research note on Friday, January 6th. The Goldman Sachs Group increased their target price on shares of Lululemon Athletica from $383.00 to $431.00 and gave the company a buy rating in a research note on Friday, December 9th. Argus reduced their target price on shares of Lululemon Athletica from $415.00 to $350.00 and set a buy rating on the stock in a research note on Wednesday, January 11th. Barclays reduced their target price on shares of Lululemon Athletica from $445.00 to $394.00 and set an overweight rating on the stock in a research note on Friday, January 13th. Finally, Guggenheim reduced their target price on shares of Lululemon Athletica from $475.00 to $400.00 in a research note on Tuesday, January 10th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lululemon Athletica currently has a consensus rating of Moderate Buy and a consensus target price of $398.23.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $294.74 on Thursday. The firm has a fifty day moving average price of $310.71 and a 200 day moving average price of $321.14. Lululemon Athletica has a fifty-two week low of $251.51 and a fifty-two week high of $410.70. The firm has a market cap of $37.58 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 1.30 and a beta of 1.35.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors have recently made changes to their positions in the company. Bridgewater Associates LP increased its holdings in shares of Lululemon Athletica by 27.4% during the 2nd quarter. Bridgewater Associates LP now owns 65,303 shares of the apparel retailer’s stock valued at $17,802,000 after purchasing an additional 14,025 shares in the last quarter. Achmea Investment Management B.V. grew its stake in Lululemon Athletica by 2.8% in the 3rd quarter. Achmea Investment Management B.V. now owns 8,420 shares of the apparel retailer’s stock valued at $2,354,000 after acquiring an additional 228 shares during the period. Industrial Alliance Investment Management Inc. grew its stake in Lululemon Athletica by 3.5% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 7,625 shares of the apparel retailer’s stock valued at $2,132,000 after acquiring an additional 257 shares during the period. Apollon Wealth Management LLC grew its stake in Lululemon Athletica by 9.0% in the 2nd quarter. Apollon Wealth Management LLC now owns 1,909 shares of the apparel retailer’s stock valued at $520,000 after acquiring an additional 158 shares during the period. Finally, Mitchell Capital Management Co. grew its stake in Lululemon Athletica by 21.1% in the 3rd quarter. Mitchell Capital Management Co. now owns 4,246 shares of the apparel retailer’s stock valued at $1,187,000 after acquiring an additional 739 shares during the period. 82.04% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Company Profile

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lululemon athletica, Inc engages in the designing, distributing and retail of athletic apparel and accessories. It operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises lululemon and ivivva brands; and specialize in athletic wear for female youth.

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Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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