JPMorgan Chase & Co. Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $437.00 to $391.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 14.48% from the stock’s current price.

Other research analysts have also issued reports about the stock. Sanford C. Bernstein raised shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $360.00 to $460.00 in a research note on Tuesday, January 7th. Truist Financial increased their price objective on Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a report on Monday, December 9th. Telsey Advisory Group reduced their price objective on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $393.45.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock opened at $341.53 on Friday. The business has a 50 day simple moving average of $366.25 and a two-hundred day simple moving average of $338.67. The stock has a market capitalization of $41.59 billion, a P/E ratio of 24.66, a PEG 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.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.85 by $0.29. The company 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%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.29 EPS. As a group, research analysts anticipate that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. TCTC Holdings LLC purchased a new position in Lululemon Athletica in the 4th quarter valued at $26,000. Anderson Financial Strategies LLC acquired a new stake in shares of Lululemon Athletica in the 4th quarter worth $30,000. Kestra Investment Management LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $32,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter worth about $32,000. Finally, Asset Planning Inc purchased a new position in Lululemon Athletica during the fourth quarter worth about $33,000. 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.