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

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

Other equities research analysts have also issued research reports about the stock. Piper Sandler raised their price target on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. KeyCorp raised their target price on Lululemon Athletica from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Telsey Advisory Group upped their price target on Lululemon Athletica from $360.00 to $430.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Truist Financial lifted 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. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $438.00 price target (up previously from $370.00) on shares of Lululemon Athletica in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $382.23.

Lululemon Athletica Stock Performance

NASDAQ:LULU traded down $2.08 during trading hours on Wednesday, reaching $391.38. The company’s stock had a trading volume of 612,203 shares, compared to its average volume of 1,304,000. The firm has a 50-day simple moving average of $350.75 and a 200-day simple moving average of $299.99. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $491.30. The firm has a market capitalization of $47.66 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.78 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The company had revenue of $2.40 billion during 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%. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.53 EPS. Equities analysts anticipate that Lululemon Athletica will post 14.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 transaction, the insider now owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in Lululemon Athletica during the 2nd quarter valued at approximately $1,011,000. Caprock Group LLC lifted its holdings in shares of Lululemon Athletica by 69.8% in the second quarter. Caprock Group LLC now owns 1,817 shares of the apparel retailer’s stock worth $543,000 after buying an additional 747 shares in the last quarter. Quest Partners LLC boosted its position in shares of Lululemon Athletica by 145.5% during the second quarter. Quest Partners LLC now owns 1,679 shares of the apparel retailer’s stock worth $502,000 after acquiring an additional 995 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Lululemon Athletica during the second quarter valued at $36,000. Finally, Choreo LLC increased its holdings in Lululemon Athletica by 680.1% in the 2nd quarter. Choreo LLC now owns 5,601 shares of the apparel retailer’s stock valued at $1,691,000 after acquiring an additional 4,883 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.