Lululemon Athletica (NASDAQ:LULU) Given New $489.00 Price Target at JPMorgan Chase & Co.

Lululemon Athletica (NASDAQ:LULU) had its price target upped by JPMorgan Chase & Co. from $487.00 to $489.00 in a research note released on Friday, BayStreet.CA reports. JPMorgan Chase & Co. currently has an overweight rating on the apparel retailer’s stock.

A number of other equities analysts also recently commented on LULU. Raymond James raised their target price on shares of Lululemon Athletica from $438.00 to $440.00 and gave the company a strong-buy rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lululemon Athletica from $465.00 to $471.00 in a research note on Friday, June 2nd. StockNews.com began coverage on Lululemon Athletica in a research report on Thursday, August 17th. They set a hold rating on the stock. UBS Group raised their price objective on Lululemon Athletica from $407.00 to $429.00 in a research note on Friday. Finally, Wells Fargo & Company upped their price target on shares of Lululemon Athletica from $425.00 to $445.00 and gave the company an overweight rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lululemon Athletica has an average rating of Moderate Buy and an average price target of $435.69.

Lululemon Athletica Stock Up 6.0 %

LULU stock opened at $404.19 on Friday. Lululemon Athletica has a 52 week low of $277.50 and a 52 week high of $406.75. The company has a market cap of $51.36 billion, a price-to-earnings ratio of 54.04, a PEG ratio of 1.66 and a beta of 1.42. The business has a fifty day simple moving average of $378.66 and a 200-day simple moving average of $358.80.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 31st. The apparel retailer reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. Lululemon Athletica had a return on equity of 44.94% and a net margin of 11.24%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the business posted $2.20 EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, analysts expect that Lululemon Athletica will post 11.93 earnings per share for the current fiscal year.

Institutional Trading of Lululemon Athletica

Several hedge funds have recently bought and sold shares of LULU. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Lululemon Athletica by 153,372.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 45,174,485 shares of the apparel retailer’s stock valued at $17,098,543,000 after buying an additional 45,145,050 shares during the last quarter. Edgewood Management LLC bought a new stake in Lululemon Athletica during the 4th quarter valued at $824,128,000. Alliancebernstein L.P. boosted its position in Lululemon Athletica by 1,462.6% during the 2nd quarter. Alliancebernstein L.P. now owns 1,093,563 shares of the apparel retailer’s stock worth $413,914,000 after acquiring an additional 1,023,578 shares during the period. D1 Capital Partners L.P. bought a new position in shares of Lululemon Athletica in the first quarter worth $279,637,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Lululemon Athletica during the first quarter valued at $278,751,000. 91.50% of the stock is currently owned by institutional investors.

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.