Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $391.00 by Analysts at JPMorgan Chase & Co.

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by JPMorgan Chase & Co. from $437.00 to $391.00 in a report issued on Friday, Marketbeat reports. They currently have an overweight rating on the apparel retailer’s stock.

A number of other brokerages have also recently issued reports on LULU. Wells Fargo & Company raised their price objective on shares of Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Piper Sandler boosted their price objective on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Stifel Nicolaus restated a “buy” rating and set a $438.00 target price (up from $370.00) on shares of Lululemon Athletica in a report on Friday, December 6th. Raymond James reiterated an “outperform” rating and issued a $430.00 price target (up previously from $400.00) on shares of Lululemon Athletica in a report on Wednesday, January 15th. Finally, William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Stock Down 14.2 %

Shares of NASDAQ:LULU opened at $293.06 on Friday. The firm has a market cap of $35.69 billion, a P/E ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The company’s 50-day moving average price is $364.63 and its two-hundred day moving average price is $340.22.

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

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Lululemon Athletica by 95.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after acquiring an additional 2,371,079 shares during the period. Mawer Investment Management Ltd. bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $523,520,000. Diamond Hill Capital Management Inc. acquired a new stake in Lululemon Athletica in the 4th quarter valued at about $370,062,000. Alliancebernstein L.P. grew its holdings in Lululemon Athletica by 14.9% during the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock worth $1,681,682,000 after purchasing an additional 571,657 shares during the period. Finally, Capital World Investors increased its position in Lululemon Athletica by 34.6% during the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock worth $827,338,000 after buying an additional 556,406 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.