Lululemon Athletica (NASDAQ:LULU) Given New $315.00 Price Target at Piper Sandler

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by equities research analysts at Piper Sandler from $340.00 to $315.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. Piper Sandler’s price objective would indicate a potential downside of 7.77% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $438.00 price target (up from $370.00) on shares of Lululemon Athletica in a research note on Friday, December 6th. TD Cowen upped their price target on shares of Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. JPMorgan Chase & Co. cut their price target on shares of Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating for the company in a report on Friday. Telsey Advisory Group decreased their price objective on shares of Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus target price of $391.28.

Lululemon Athletica Stock Up 1.1 %

NASDAQ:LULU opened at $341.53 on Friday. The company has a market capitalization of $41.59 billion, a PE ratio of 24.66, a P/E/G ratio of 2.22 and a beta of 1.21. The stock’s 50 day moving average price is $366.25 and its 200 day moving average price is $338.67. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the company earned $5.29 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Institutional Trading of Lululemon Athletica

A number of hedge funds have recently added to or reduced their stakes in LULU. Qsemble Capital Management LP purchased a new position in shares of Lululemon Athletica during the 3rd quarter worth about $210,000. D.A. Davidson & CO. raised its stake in Lululemon Athletica by 13.1% during the third quarter. D.A. Davidson & CO. now owns 3,074 shares of the apparel retailer’s stock worth $834,000 after purchasing an additional 356 shares during the period. Townsquare Capital LLC raised its stake in Lululemon Athletica by 47.9% during the third quarter. Townsquare Capital LLC now owns 2,205 shares of the apparel retailer’s stock worth $598,000 after purchasing an additional 714 shares during the period. Glenmede Trust Co. NA boosted its holdings in shares of Lululemon Athletica by 18.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,614 shares of the apparel retailer’s stock valued at $438,000 after purchasing an additional 256 shares during the last quarter. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Lululemon Athletica during the 3rd quarter valued at $274,000. 85.20% of the stock is owned by institutional investors and hedge funds.

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.