Lululemon Athletica (NASDAQ:LULU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Lululemon Athletica (NASDAQ:LULU) had its target price upped by analysts at JPMorgan Chase & Co. from $425.00 to $428.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.93% from the company’s current price.

A number of other brokerages also recently weighed in on LULU. BMO Capital Markets increased their price target on shares of Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Truist Financial raised their price objective on Lululemon Athletica from $360.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Telsey Advisory Group boosted their price objective on Lululemon Athletica from $360.00 to $430.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Finally, Sanford C. Bernstein upgraded shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $360.00 to $460.00 in a research note on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $382.23.

Lululemon Athletica Trading Down 0.1 %

Shares of Lululemon Athletica stock opened at $392.92 on Wednesday. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $491.30. The firm has a fifty day simple moving average of $354.43 and a 200-day simple moving average of $301.28. The stock has a market capitalization of $47.85 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 2.78 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS 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 analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.53 earnings per share. As a group, research analysts predict that Lululemon Athletica will post 14.17 earnings per share for the current year.

Insider Transactions at Lululemon Athletica

In related news, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the sale, the insider now owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole Neuburger sold 2,022 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the sale, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Shepherd Financial Partners LLC bought a new stake in Lululemon Athletica in the third quarter valued at approximately $953,000. XTX Topco Ltd grew its stake in Lululemon Athletica by 281.4% in the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after buying an additional 6,562 shares during the last quarter. Rheos Capital Works Inc. raised its holdings in Lululemon Athletica by 19.2% in the 3rd quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after acquiring an additional 2,500 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Lululemon Athletica by 198.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock worth $1,844,000 after acquiring an additional 4,564 shares during the last quarter. Finally, Caxton Associates LP boosted its holdings in shares of Lululemon Athletica by 6,702.7% during the second quarter. Caxton Associates LP now owns 60,000 shares of the apparel retailer’s stock worth $17,922,000 after acquiring an additional 59,118 shares during the period. 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.