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

Lululemon Athletica (NASDAQ:LULU) had its target price boosted by JPMorgan Chase & Co. from $425.00 to $428.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.36% from the stock’s previous close.

A number of other brokerages have also recently commented on LULU. Truist Financial increased their price target on Lululemon Athletica from $360.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Raymond James lifted their price objective on shares of Lululemon Athletica from $320.00 to $355.00 in a research note on Thursday, December 5th. KeyCorp raised their price target 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. TD Securities upped their price objective on shares of Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and raised their target price for the company from $360.00 to $460.00 in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $382.23.

Lululemon Athletica Stock Down 0.5 %

Lululemon Athletica stock traded down $2.08 during trading hours on Wednesday, hitting $391.38. The stock had a trading volume of 612,203 shares, compared to its average volume of 1,304,000. The business’s 50 day simple moving average is $350.75 and its 200-day simple moving average is $299.99. Lululemon Athletica has a one year low of $226.01 and a one year high of $491.30. The stock has a market cap of $47.66 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.78 and a beta of 1.18.

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

Insider Activity

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

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Market Strategies LLC lifted its position in Lululemon Athletica by 6.5% during the fourth quarter. Capital Market Strategies LLC now owns 820 shares of the apparel retailer’s stock valued at $314,000 after purchasing an additional 50 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Lululemon Athletica by 3.3% during the 4th quarter. Nordea Investment Management AB now owns 9,034 shares of the apparel retailer’s stock worth $3,465,000 after acquiring an additional 287 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Lululemon Athletica in the fourth quarter worth $1,327,000. Modus Advisors LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at about $95,000. Finally, GAMMA Investing LLC lifted its stake in Lululemon Athletica by 56.7% during the fourth quarter. GAMMA Investing LLC now owns 1,515 shares of the apparel retailer’s stock worth $579,000 after purchasing an additional 548 shares during the last quarter. Hedge funds and other institutional investors 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.