Piper Sandler Raises Lululemon Athletica (NASDAQ:LULU) Price Target to $390.00

Lululemon Athletica (NASDAQ:LULUGet Rating) had its price target lifted by stock analysts at Piper Sandler from $350.00 to $390.00 in a research report issued on Friday, The Fly reports. Piper Sandler’s price objective suggests a potential upside of 4.14% from the stock’s previous close.

LULU has been the subject of a number of other reports. StockNews.com initiated coverage on shares of Lululemon Athletica in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Citigroup increased their price target on shares of Lululemon Athletica from $350.00 to $400.00 and gave the company a “neutral” rating in a report on Monday. Morgan Stanley increased their price target on shares of Lululemon Athletica from $315.00 to $343.00 and gave the company an “overweight” rating in a report on Friday, September 2nd. Raymond James increased their price objective on shares of Lululemon Athletica from $345.00 to $438.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lululemon Athletica from $434.00 to $450.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus price target of $410.85.

Lululemon Athletica Trading Up 0.6 %

NASDAQ LULU opened at $374.51 on Friday. The company has a fifty day simple moving average of $331.44 and a 200 day simple moving average of $312.52. The company has a market cap of $47.75 billion, a P/E ratio of 43.85, a P/E/G ratio of 1.88 and a beta of 1.31. Lululemon Athletica has a 1 year low of $251.51 and a 1 year high of $427.47.

Lululemon Athletica (NASDAQ:LULUGet Rating) last posted its quarterly earnings data on Thursday, December 8th. The apparel retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. Lululemon Athletica had a net margin of 15.60% and a return on equity of 40.95%. Lululemon Athletica’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 EPS. Equities research analysts forecast that Lululemon Athletica will post 9.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathryn Henry sold 189 shares of Lululemon Athletica stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $351.80, for a total transaction of $66,490.20. Following the transaction, the director now owns 4,102 shares of the company’s stock, valued at approximately $1,443,083.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Csenge Advisory Group acquired a new stake in Lululemon Athletica during the 1st quarter worth approximately $219,000. Duality Advisers LP acquired a new stake in Lululemon Athletica during the 1st quarter worth approximately $217,000. Bank of Nova Scotia raised its holdings in Lululemon Athletica by 63.4% during the 1st quarter. Bank of Nova Scotia now owns 2,546 shares of the apparel retailer’s stock worth $930,000 after buying an additional 988 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Lululemon Athletica by 31.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 13,965 shares of the apparel retailer’s stock worth $5,100,000 after buying an additional 3,345 shares during the period. Finally, Western Wealth Management LLC raised its holdings in Lululemon Athletica by 78.5% during the 1st quarter. Western Wealth Management LLC now owns 1,667 shares of the apparel retailer’s stock worth $609,000 after buying an additional 733 shares during the period. Institutional investors own 81.11% of the company’s stock.

Lululemon Athletica Company Profile

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lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories 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 and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.

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Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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