Piper Sandler Has Lowered Expectations for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price objective lowered by equities researchers at Piper Sandler from $340.00 to $315.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the apparel retailer’s stock. Piper Sandler’s target price suggests a potential downside of 7.77% from the company’s current price.

A number of other research analysts have also weighed in on the stock. BMO Capital Markets raised their price target on shares of Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Jefferies Financial Group restated an “underperform” rating and issued a $220.00 target price on shares of Lululemon Athletica in a research report on Monday, December 2nd. 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 report on Friday, December 6th. William Blair restated an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. Finally, Sanford C. Bernstein raised shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $360.00 to $460.00 in a research note on Tuesday, January 7th. One investment 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $391.28.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $341.53 on Friday. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $423.32. The company has a market cap of $41.59 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.22 and a beta of 1.21. The stock has a 50 day simple moving average of $366.25 and a 200-day simple moving average of $338.67.

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

Institutional Investors Weigh In On Lululemon Athletica

Large investors have recently modified their holdings of the company. TCTC Holdings LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter worth $26,000. Anderson Financial Strategies LLC purchased a new stake in Lululemon Athletica during the 4th quarter worth about $30,000. Kestra Investment Management LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter worth about $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter valued at about $32,000. Finally, Sound Income Strategies LLC raised its position in shares of Lululemon Athletica by 309.5% during the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 65 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other 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.