Piper Sandler Boosts Lululemon Athletica (NASDAQ:LULU) Price Target to $260.00

Lululemon Athletica (NASDAQ:LULU) had its price objective upped by analysts at Piper Sandler from $250.00 to $260.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the apparel retailer’s stock. Piper Sandler’s price target would indicate a potential upside of 0.68% from the stock’s current price.

Other research analysts also recently issued reports about the stock. UBS Group cut their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. BTIG Research started coverage on shares of Lululemon Athletica in a report on Wednesday, May 8th. They set a “buy” rating and a $425.00 target price on the stock. Robert W. Baird reduced their price target on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $357.00 target price on shares of Lululemon Athletica in a research note on Thursday, June 13th. Finally, BMO Capital Markets cut their price objective on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating for the company in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average price target of $372.58.

Lululemon Athletica Trading Down 0.3 %

Shares of LULU stock traded down $0.76 during trading on Friday, hitting $258.25. The company’s stock had a trading volume of 3,289,279 shares, compared to its average volume of 2,111,484. The business has a fifty day moving average of $273.65 and a 200-day moving average of $341.85. The company has a market cap of $32.28 billion, a PE ratio of 20.71, a P/E/G ratio of 1.25 and a beta of 1.26. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.23. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm earned $2.68 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts predict that Lululemon Athletica will post 14.22 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Lululemon Athletica

Several large investors have recently bought and sold shares of the business. Choreo LLC grew its position in Lululemon Athletica by 24.5% in the 4th quarter. Choreo LLC now owns 803 shares of the apparel retailer’s stock worth $411,000 after purchasing an additional 158 shares during the period. Brighton Jones LLC grew its holdings in Lululemon Athletica by 13.5% during the fourth quarter. Brighton Jones LLC now owns 731 shares of the apparel retailer’s stock valued at $374,000 after purchasing an additional 87 shares during the period. Savant Capital LLC increased its position in Lululemon Athletica by 18.1% in the fourth quarter. Savant Capital LLC now owns 888 shares of the apparel retailer’s stock worth $454,000 after buying an additional 136 shares in the last quarter. New York Life Investment Management LLC lifted its position in shares of Lululemon Athletica by 965.1% during the 4th quarter. New York Life Investment Management LLC now owns 17,905 shares of the apparel retailer’s stock valued at $9,155,000 after buying an additional 16,224 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its stake in shares of Lululemon Athletica by 46.6% during the 4th quarter. Great Valley Advisor Group Inc. now owns 3,670 shares of the apparel retailer’s stock valued at $1,876,000 after acquiring an additional 1,166 shares during the period. 85.20% of the stock is currently owned by institutional investors.

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.