JPMorgan Chase & Co. Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $389.00

Lululemon Athletica (NASDAQ:LULU) had its price objective cut by JPMorgan Chase & Co. from $391.00 to $389.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the apparel retailer’s stock.

Several other equities analysts have also recently weighed in on the stock. Argus downgraded Lululemon Athletica from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Cfra Research upgraded Lululemon Athletica from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Piper Sandler dropped their price objective on Lululemon Athletica from $315.00 to $280.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Truist Financial reduced their target price on shares of Lululemon Athletica from $380.00 to $297.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Bank of America dropped their price target on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $371.72.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $249.37 on Monday. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The stock has a 50 day moving average price of $323.24 and a two-hundred day moving average price of $338.41. The stock has a market capitalization of $30.08 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31.

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

Institutional Trading of Lululemon Athletica

A number of hedge funds and other institutional investors have recently made changes to their positions in LULU. TCTC Holdings LLC bought a new stake in shares of Lululemon Athletica during the fourth quarter valued at about $26,000. Anderson Financial Strategies LLC purchased a new position in Lululemon Athletica during the fourth quarter valued at approximately $30,000. Kestra Investment Management LLC bought a new stake in Lululemon Athletica during the 4th quarter worth approximately $32,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Lululemon Athletica in the 4th quarter worth approximately $32,000. Finally, Sound Income Strategies LLC boosted its holdings in Lululemon Athletica by 309.5% in the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 65 shares during the period. 85.20% of the stock is currently owned by institutional investors.

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.