JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Lululemon Athletica (NASDAQ:LULU) Stock

Lululemon Athletica (NASDAQ:LULU) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $338.00 to $425.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 6.36% from the company’s current price.

LULU has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lifted their price target on Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Evercore ISI lifted their target price on shares of Lululemon Athletica from $300.00 to $355.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Robert W. Baird increased their price target on shares of Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday. TD Securities lifted their price objective on shares of Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Telsey Advisory Group upped their price objective on shares of Lululemon Athletica from $360.00 to $430.00 and gave the stock an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $379.52.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $399.60 on Friday. The firm’s 50 day moving average price is $305.79 and its two-hundred day moving average price is $288.07. The firm has a market cap of $49.06 billion, a PE ratio of 28.85, a P/E/G ratio of 2.50 and a beta of 1.23. Lululemon Athletica has a twelve month low of $226.01 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. Lululemon Athletica’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.53 earnings per share. Equities analysts anticipate that Lululemon Athletica will post 13.93 EPS for the current fiscal year.

Insider Activity

In related news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is owned by company insiders.

Institutional Trading of Lululemon Athletica

A number of hedge funds have recently modified their holdings of LULU. American Trust bought a new stake in shares of Lululemon Athletica during the third quarter valued at approximately $785,000. Synovus Financial Corp boosted its stake in Lululemon Athletica by 46.4% during the third quarter. Synovus Financial Corp now owns 4,191 shares of the apparel retailer’s stock worth $1,137,000 after buying an additional 1,329 shares in the last quarter. Tidal Investments LLC increased its holdings in Lululemon Athletica by 19.0% in the 3rd quarter. Tidal Investments LLC now owns 11,406 shares of the apparel retailer’s stock valued at $3,095,000 after buying an additional 1,822 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at $249,000. Finally, Sfmg LLC bought a new position in shares of Lululemon Athletica during the 3rd quarter worth about $2,984,000. 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.