JPMorgan Chase & Co. Raises Lululemon Athletica (NASDAQ:LULU) Price Target to $428.00

Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by JPMorgan Chase & Co. from $425.00 to $428.00 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the apparel retailer’s stock.

Several other research firms also recently weighed in on LULU. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. KeyCorp raised their target price on shares of Lululemon Athletica from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Stifel Nicolaus reiterated a “buy” rating and set a $438.00 price target (up from $370.00) on shares of Lululemon Athletica in a report on Friday, December 6th. UBS Group raised their price objective on shares of Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Guggenheim upped their target price on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $382.23.

Lululemon Athletica Stock Down 0.1 %

LULU stock opened at $392.92 on Wednesday. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $491.30. The firm has a market capitalization of $47.85 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 2.78 and a beta of 1.18. The company has a fifty day simple moving average of $352.53 and a two-hundred day simple moving average of $300.64.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.53 EPS. As a group, analysts anticipate that Lululemon Athletica will post 14.17 EPS for the current year.

Insiders Place Their Bets

In other news, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now owns 12,429 shares of the company’s stock, valued at $5,040,456.66. This trade represents a 66.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lululemon Athletica

Several institutional investors have recently added to or reduced their stakes in LULU. Sunbelt Securities Inc. raised its position in shares of Lululemon Athletica by 4.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 950 shares of the apparel retailer’s stock valued at $258,000 after purchasing an additional 42 shares during the last quarter. HHM Wealth Advisors LLC increased its stake in Lululemon Athletica by 66.7% during the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 46 shares in the last quarter. Capital Market Strategies LLC raised its holdings in shares of Lululemon Athletica by 6.5% in the fourth quarter. Capital Market Strategies LLC now owns 820 shares of the apparel retailer’s stock worth $314,000 after buying an additional 50 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of Lululemon Athletica by 2.7% during the third quarter. Fulton Bank N.A. now owns 2,115 shares of the apparel retailer’s stock worth $574,000 after buying an additional 56 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Lululemon Athletica by 11.2% during the second quarter. EverSource Wealth Advisors LLC now owns 598 shares of the apparel retailer’s stock valued at $179,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

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