JPMorgan Chase & Co. Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $391.00

Lululemon Athletica (NASDAQ:LULU) had its price target lowered by JPMorgan Chase & Co. from $437.00 to $391.00 in a report issued on Friday, MarketBeat reports. The firm currently has an overweight rating on the apparel retailer’s stock.

A number of other equities analysts have also commented on the stock. Raymond James reissued an “outperform” rating and issued a $430.00 price target (up previously from $400.00) on shares of Lululemon Athletica in a research report on Wednesday, January 15th. Oppenheimer boosted their target price on shares of Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. BMO Capital Markets raised their price target on Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Piper Sandler lifted their price objective on Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and increased their target price for the company from $360.00 to $460.00 in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $380.72.

Lululemon Athletica Trading Down 14.2 %

Shares of NASDAQ:LULU opened at $293.06 on Friday. The stock has a market capitalization of $35.69 billion, a PE ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32. The firm has a fifty day moving average price of $364.63 and a 200 day moving average price of $340.22.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $5.29 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts forecast that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Trading of Lululemon Athletica

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in Lululemon Athletica by 95.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock worth $1,854,160,000 after acquiring an additional 2,371,079 shares in the last quarter. Mawer Investment Management Ltd. bought a new stake in shares of Lululemon Athletica in the 4th quarter worth about $523,520,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth about $370,062,000. Alliancebernstein L.P. lifted its holdings in Lululemon Athletica by 14.9% during the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after purchasing an additional 571,657 shares during the last quarter. Finally, Capital World Investors boosted its position in Lululemon Athletica by 34.6% in the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock valued at $827,338,000 after buying an additional 556,406 shares in the last quarter. Institutional investors and hedge funds 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.