Piper Sandler Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $470.00

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by investment analysts at Piper Sandler from $525.00 to $470.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the apparel retailer’s stock. Piper Sandler’s price objective points to a potential upside of 34.19% from the company’s current price.

Other equities research analysts have also issued reports about the company. Sanford C. Bernstein upped their price target on Lululemon Athletica from $400.00 to $430.00 and gave the company a “market perform” rating in a research report on Thursday, January 4th. Needham & Company LLC lowered their price objective on Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Robert W. Baird increased their price objective on Lululemon Athletica from $520.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Guggenheim lowered their price objective on Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, TD Cowen lowered their price objective on Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $485.39.

Lululemon Athletica Trading Down 2.4 %

NASDAQ:LULU opened at $350.25 on Tuesday. Lululemon Athletica has a 12 month low of $326.93 and a 12 month high of $516.39. The stock has a 50 day moving average of $436.77 and a two-hundred day moving average of $440.68. The firm has a market cap of $44.14 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 1.27 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.40 earnings per share. On average, research analysts forecast that Lululemon Athletica will post 14.15 earnings per share for the current year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average price of $389.29 per share, with a total value of $272,503.00. Following the completion of the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lululemon Athletica

Large investors have recently bought and sold shares of the business. Daymark Wealth Partners LLC grew its holdings in shares of Lululemon Athletica by 3.8% during the fourth quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock worth $293,000 after buying an additional 21 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in shares of Lululemon Athletica by 1.9% during the fourth quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after buying an additional 22 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings in shares of Lululemon Athletica by 1.9% during the fourth quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock worth $646,000 after buying an additional 23 shares during the last quarter. Baker Avenue Asset Management LP grew its holdings in shares of Lululemon Athletica by 11.1% during the third quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock worth $97,000 after buying an additional 25 shares during the last quarter. Finally, Sage Mountain Advisors LLC grew its holdings in shares of Lululemon Athletica by 3.3% during the third quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer’s stock worth $312,000 after buying an additional 26 shares during the last quarter. 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 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.