Oppenheimer Holdings Inc. set a $70.00 target price on Lululemon Athletica Inc. (NASDAQ:LULU) in a research note issued to investors on Tuesday morning. The brokerage currently has a a buy rating on the apparel retailer’s stock.

LULU has been the subject of a number of other reports. Piper Jaffray Cos. raised Lululemon Athletica from a hold rating to a buy rating in a research note on Friday, September 9th. FBR & Co reissued an underperform rating and set a $40.00 price target on shares of Lululemon Athletica in a research note on Friday, September 2nd. Vetr raised Lululemon Athletica from a buy rating to a strong-buy rating in a research note on Friday, September 30th. Credit Suisse Group AG reaffirmed a buy rating and set a $83.00 target price on shares of Lululemon Athletica in a research report on Tuesday, June 21st. Finally, Barclays PLC reaffirmed an overweight rating and set a $85.00 target price on shares of Lululemon Athletica in a research report on Sunday, September 4th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $71.57.

Lululemon Athletica (NASDAQ:LULU) traded up 4.307% during midday trading on Tuesday, hitting $58.725. The stock had a trading volume of 4,106,887 shares. The stock has a market cap of $8.05 billion, a PE ratio of 30.131 and a beta of 0.60. The company’s 50 day moving average price is $63.72 and its 200-day moving average price is $69.03. Lululemon Athletica has a 52-week low of $43.14 and a 52-week high of $81.81.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, September 1st. The apparel retailer reported $0.38 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.38. Lululemon Athletica had a return on equity of 23.73% and a net margin of 12.28%. The firm earned $514.52 million during the quarter. During the same period in the prior year, the business posted $0.34 earnings per share. Lululemon Athletica’s revenue was up 13.6% on a year-over-year basis. Analysts forecast that Lululemon Athletica will post $2.12 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Lone Pine Capital LLC boosted its stake in shares of Lululemon Athletica by 42.9% in the second quarter. Lone Pine Capital LLC now owns 7,410,304 shares of the apparel retailer’s stock valued at $547,325,000 after buying an additional 2,224,220 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Lululemon Athletica by 2.0% in the second quarter. Vanguard Group Inc. now owns 7,057,420 shares of the apparel retailer’s stock valued at $521,261,000 after buying an additional 139,604 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Lululemon Athletica by 761.4% in the second quarter. Jennison Associates LLC now owns 6,234,712 shares of the apparel retailer’s stock valued at $460,496,000 after buying an additional 5,510,939 shares during the last quarter. State Street Corp boosted its stake in shares of Lululemon Athletica by 3.7% in the first quarter. State Street Corp now owns 2,036,631 shares of the apparel retailer’s stock valued at $137,900,000 after buying an additional 72,362 shares during the last quarter. Finally, Waddell & Reed Financial Inc. boosted its stake in shares of Lululemon Athletica by 20.0% in the second quarter. Waddell & Reed Financial Inc. now owns 1,250,852 shares of the apparel retailer’s stock valued at $92,388,000 after buying an additional 208,242 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

About Lululemon Athletica

Lululemon Athletica Inc is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth.

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