Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $428.00

Lululemon Athletica (NASDAQ:LULU) had its price target upped by JPMorgan Chase & Co. from $425.00 to $428.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the apparel retailer’s stock.

Several other research firms also recently weighed in on LULU. KeyCorp upped their price objective on shares of Lululemon Athletica from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $438.00 price target (up previously from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and raised their target price for the company from $360.00 to $460.00 in a report on Tuesday. Finally, UBS Group upped their price target on Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $382.73.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $395.47 on Wednesday. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $491.30. The company’s 50 day moving average price is $355.92 and its 200-day moving average price is $301.86. The company has a market capitalization of $48.16 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 2.78 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.18. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.53 earnings per share. Analysts forecast that Lululemon Athletica will post 14.17 earnings per share for the current year.

Insider Buying and Selling at Lululemon Athletica

In related news, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica 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 completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Institutional Trading of Lululemon Athletica

A number of hedge funds have recently bought and sold shares of LULU. Paladin Wealth LLC purchased a new stake in shares of Lululemon Athletica in the third quarter worth $29,000. HHM Wealth Advisors LLC boosted its stake in Lululemon Athletica by 66.7% during the second quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock worth $34,000 after buying an additional 46 shares during the period. JFS Wealth Advisors LLC lifted its stake in shares of Lululemon Athletica by 127.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Lululemon Athletica in the 2nd quarter valued at about $36,000. Finally, Armstrong Advisory Group Inc. increased its stake in shares of Lululemon Athletica by 110.1% during the third quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock valued at $39,000 after buying an additional 76 shares during the period. 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.