Piper Sandler Boosts Lululemon Athletica (NASDAQ:LULU) Price Target to $340.00

Lululemon Athletica (NASDAQ:LULU) had its price objective boosted by equities researchers at Piper Sandler from $260.00 to $340.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the apparel retailer’s stock. Piper Sandler’s target price suggests a potential downside of 1.39% from the stock’s current price.

Other research analysts have also issued research reports about the company. UBS Group dropped their target price on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Citigroup dropped their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Guggenheim reduced their target price on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Wedbush dropped their price target on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Finally, KeyCorp raised their price objective on shares of Lululemon Athletica from $350.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $364.06.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $344.81 on Friday. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39. The company has a market capitalization of $42.33 billion, a PE ratio of 26.65, a P/E/G ratio of 2.49 and a beta of 1.23. The company has a fifty day moving average of $303.40 and a two-hundred day moving average of $287.81.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company earned $2.53 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts expect that Lululemon Athletica will post 13.94 earnings per share for the current year.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Lululemon Athletica

Hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC lifted its position in Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares during the period. Paladin Wealth LLC acquired a new position in shares of Lululemon Athletica during the 3rd quarter valued at about $29,000. Ridgewood Investments LLC purchased a new position in shares of Lululemon Athletica during the 2nd quarter worth about $33,000. Dnca Finance acquired a new stake in shares of Lululemon Athletica in the second quarter worth approximately $34,000. Finally, HHM Wealth Advisors LLC grew its holdings in Lululemon Athletica by 66.7% in the second quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 46 shares during the period. 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.