Lululemon Athletica (NASDAQ:LULU) Given New $389.00 Price Target at JPMorgan Chase & Co.

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

A number of other research firms have also recently issued reports on LULU. Bank of America cut their price objective on Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a report on Friday, March 28th. Wells Fargo & Company decreased their price target on shares of Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Oppenheimer lifted 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. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research note on Thursday, April 3rd. Finally, Robert W. Baird reduced their price objective on Lululemon Athletica from $450.00 to $370.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong 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 $371.72.

Lululemon Athletica Price Performance

Shares of LULU opened at $249.37 on Monday. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $423.32. The company has a market capitalization of $30.08 billion, a P/E ratio of 18.01, a P/E/G ratio of 2.22 and a beta of 1.31. The firm’s 50 day simple moving average is $323.24 and its 200 day simple moving average is $338.41.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share 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 firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the company posted $5.29 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current year.

Hedge Funds Weigh In On Lululemon Athletica

Several institutional investors and hedge funds have recently added to or reduced their stakes in LULU. Beacon Capital Management LLC grew its position in shares of Lululemon Athletica by 6.9% in the 4th quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer’s stock worth $142,000 after buying an additional 24 shares during the period. Edgestream Partners L.P. grew its holdings in Lululemon Athletica by 0.7% in the fourth quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer’s stock worth $1,353,000 after purchasing an additional 25 shares during the period. SeaCrest Wealth Management LLC increased its stake in shares of Lululemon Athletica by 2.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock valued at $389,000 after purchasing an additional 26 shares in the last quarter. Dnca Finance lifted its holdings in shares of Lululemon Athletica by 15.1% during the fourth quarter. Dnca Finance now owns 198 shares of the apparel retailer’s stock valued at $76,000 after purchasing an additional 26 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Lululemon Athletica by 9.4% in the 4th quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer’s stock worth $124,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other 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.