Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $340.00

Lululemon Athletica (NASDAQ:LULU) had its target price raised by Piper Sandler from $260.00 to $340.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the apparel retailer’s stock.

A number of other equities analysts have also recently issued reports on LULU. Stifel Nicolaus dropped their price target on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Sanford C. Bernstein cut their price target on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a report on Friday, August 30th. Barclays reduced their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $220.00 price objective on shares of Lululemon Athletica in a research report on Monday, December 2nd. Finally, Guggenheim reduced their target price on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating for the company in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $374.17.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $399.60 on Friday. The firm has a market capitalization of $49.06 billion, a P/E ratio of 28.85, a PEG ratio of 2.50 and a beta of 1.23. Lululemon Athletica has a one year low of $226.01 and a one year high of $516.39. The company’s 50-day simple moving average is $305.79 and its 200 day simple moving average is $287.98.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm posted $2.53 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Lululemon Athletica will post 13.93 earnings per share for the current fiscal year.

Insider Transactions at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its position in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares during the last quarter. Paladin Wealth LLC purchased a new stake in shares of Lululemon Athletica during the 3rd quarter valued at about $29,000. Ridgewood Investments LLC bought a new position in shares of Lululemon Athletica in the 2nd quarter valued at about $33,000. Dnca Finance purchased a new position in Lululemon Athletica in the second quarter worth about $34,000. Finally, HHM Wealth Advisors LLC increased its stake in Lululemon Athletica by 66.7% during the second quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock worth $34,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Company Profile

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.