Piper Sandler Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $315.00

Lululemon Athletica (NASDAQ:LULU) had its price objective cut by Piper Sandler from $340.00 to $315.00 in a report published on Friday, MarketBeat Ratings reports. They currently have a neutral rating on the apparel retailer’s stock.

LULU has been the subject of several other reports. BMO Capital Markets raised their price target on shares of Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Oppenheimer lifted their target price on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Needham & Company LLC dropped their price target on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. UBS Group lifted their price objective on Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Evercore ISI upped their target price on Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $293.06 on Friday. The company has a 50 day moving average price of $364.63 and a 200 day moving average price of $340.22. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The firm has a market capitalization of $35.69 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21.

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, beating analysts’ consensus estimates of $5.85 by $0.29. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.29 earnings per share. Equities analysts forecast that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

Several institutional investors and hedge funds have recently made changes to their positions in LULU. Price T Rowe Associates Inc. MD increased its holdings in shares of Lululemon Athletica by 95.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock worth $1,854,160,000 after buying an additional 2,371,079 shares in the last quarter. Alliancebernstein L.P. grew its position in Lululemon Athletica by 14.9% during the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock worth $1,681,682,000 after acquiring an additional 571,657 shares during the last quarter. Geode Capital Management LLC increased its holdings in Lululemon Athletica by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer’s stock valued at $947,682,000 after purchasing an additional 10,461 shares in the last quarter. Capital World Investors raised its position in Lululemon Athletica by 34.6% in the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock valued at $827,338,000 after purchasing an additional 556,406 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Lululemon Athletica by 31.0% in the fourth quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock worth $681,163,000 after purchasing an additional 421,890 shares in the last quarter. 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.