Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $389.00 by Analysts at JPMorgan Chase & Co.

Lululemon Athletica (NASDAQ:LULU - Free Report) had its price objective lowered by JPMorgan Chase & Co. from $391.00 to $389.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the apparel retailer's stock.

LULU has been the topic of a number of other research reports. Cfra Research raised Lululemon Athletica from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Needham & Company LLC dropped their target price on Lululemon Athletica from $475.00 to $430.00 and set a "buy" rating on the stock in a research report on Wednesday, March 26th. Oppenheimer raised their price objective on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Citigroup set a $330.00 target price on Lululemon Athletica and gave the stock a "negative" rating in a research report on Friday, March 28th. Finally, Morgan Stanley dropped their target price on shares of Lululemon Athletica from $411.00 to $373.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $371.72.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock traded up $1.71 during mid-day trading on Monday, hitting $251.08. 1,600,547 shares of the stock were exchanged, compared to its average volume of 2,229,637. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The company has a 50-day simple moving average of $317.33 and a 200 day simple moving average of $338.17. The company has a market capitalization of $30.29 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.59 billion. During the same quarter in the previous year, the firm earned $5.29 earnings per share. The business's revenue was up 12.3% on a year-over-year basis. Analysts predict that Lululemon Athletica will post 14.36 EPS 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. TCTC Holdings LLC bought a new position in shares of Lululemon Athletica in the 4th quarter worth about $26,000. Anderson Financial Strategies LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at approximately $30,000. Kestra Investment Management LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $32,000. Bradley & Co. Private Wealth Management LLC bought a new position in Lululemon Athletica during the 4th quarter valued at approximately $32,000. Finally, Sound Income Strategies LLC boosted its holdings in Lululemon Athletica by 309.5% in the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer's stock worth $33,000 after acquiring an additional 65 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.