JPMorgan Chase & Co. Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $391.00

Lululemon Athletica (NASDAQ:LULU) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $437.00 to $391.00 in a note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 33.42% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC cut their price objective on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird lifted their price target on shares of Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. TD Securities increased their price objective on Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Barclays boosted their target price on Lululemon Athletica from $378.00 to $411.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Telsey Advisory Group decreased their price target on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Stock Down 14.2 %

Shares of NASDAQ:LULU opened at $293.06 on Friday. The firm has a 50 day moving average of $364.63 and a 200 day moving average of $339.62. The company has a market capitalization of $35.69 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the business posted $5.29 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts expect that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Fairtree Asset Management Pty Ltd acquired a new stake in shares of Lululemon Athletica during the 4th quarter valued at about $497,000. 111 Capital purchased a new position in Lululemon Athletica during the fourth quarter worth approximately $3,362,000. NorthCrest Asset Manangement LLC boosted its position in Lululemon Athletica by 6.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,198 shares of the apparel retailer’s stock worth $458,000 after purchasing an additional 71 shares in the last quarter. PKO Investment Management Joint Stock Co acquired a new stake in Lululemon Athletica in the fourth quarter valued at approximately $1,912,000. Finally, Wealthedge Investment Advisors LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $1,257,000. Institutional investors and hedge funds 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.