Piper Sandler Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its target price decreased by Piper Sandler from $340.00 to $315.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a "neutral" rating on the apparel retailer's stock. Piper Sandler's price objective suggests a potential upside of 7.49% from the company's current price.

Other equities analysts have also recently issued research reports about the company. William Blair reaffirmed an "outperform" rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Sanford C. Bernstein raised Lululemon Athletica from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $360.00 to $460.00 in a research report on Tuesday, January 7th. UBS Group raised their target price on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Morgan Stanley decreased their price target on shares of Lululemon Athletica from $420.00 to $411.00 and set an "overweight" rating for the company in a report on Wednesday, March 19th. Finally, Citigroup dropped their price objective on Lululemon Athletica from $380.00 to $330.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $380.72.

Remove Ads

Lululemon Athletica Stock Performance

LULU traded down $48.47 during trading on Friday, reaching $293.06. The company had a trading volume of 12,900,347 shares, compared to its average volume of 2,144,794. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $423.32. The company has a market cap of $35.69 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21. The firm's 50-day simple moving average is $364.63 and its 200 day simple moving average is $339.62.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the business earned $5.29 earnings per share. The firm's revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts expect that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LULU. Price T Rowe Associates Inc. MD increased its holdings in Lululemon Athletica by 95.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer's stock valued at $1,854,160,000 after purchasing an additional 2,371,079 shares during the last quarter. Mawer Investment Management Ltd. bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at $523,520,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth about $370,062,000. Alliancebernstein L.P. increased its stake 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 purchasing an additional 571,657 shares in the last quarter. Finally, Capital World Investors lifted its stake in Lululemon Athletica by 34.6% in the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock valued at $827,338,000 after buying an additional 556,406 shares in the last quarter. 85.20% of the stock is currently owned by 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.