JPMorgan Chase & Co. Issues Positive Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by JPMorgan Chase & Co. from $428.00 to $437.00 in a research report sent to investors on Thursday, Marketbeat.com reports. They currently have an overweight rating on the apparel retailer’s stock.

A number of other analysts also recently issued reports on LULU. Telsey Advisory Group increased their target price on shares of Lululemon Athletica from $430.00 to $445.00 and gave the stock an “outperform” rating in a research report on Tuesday. Needham & Company LLC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price objective for the company in a research report on Friday, January 10th. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Raymond James reaffirmed an “outperform” rating and set a $430.00 price target (up from $400.00) on shares of Lululemon Athletica in a research report on Wednesday. Finally, Truist Financial raised their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $390.33.

Lululemon Athletica Stock Down 1.5 %

Shares of LULU opened at $370.99 on Thursday. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $491.30. The company’s fifty day moving average is $360.19 and its two-hundred day moving average is $303.57. The firm has a market cap of $45.18 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.71 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the firm earned $2.53 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Lululemon Athletica will post 14.18 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Lululemon Athletica

Several institutional investors have recently modified their holdings of the company. Paladin Wealth LLC bought a new stake in Lululemon Athletica in the 3rd quarter valued at about $29,000. JFS Wealth Advisors LLC increased its stake in shares of Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 65 shares during the period. Armstrong Advisory Group Inc. raised its holdings in shares of Lululemon Athletica by 110.1% during the third quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock valued at $39,000 after buying an additional 76 shares during the last quarter. Asset Dedication LLC boosted its position in shares of Lululemon Athletica by 402.1% during the third quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock worth $64,000 after buying an additional 189 shares during the period. Finally, Avondale Wealth Management bought a new position in Lululemon Athletica in the 3rd quarter worth approximately $68,000. Institutional investors own 85.20% of the company’s stock.

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