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

Lululemon Athletica (NASDAQ:LULU) had its price target hoisted by Piper Sandler from $260.00 to $340.00 in a report published on Friday,Benzinga reports. The firm currently has a neutral rating on the apparel retailer’s stock.

A number of other brokerages have also recently issued reports on LULU. TD Cowen lowered their price objective on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Bank of America lowered their price target on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Raymond James increased their price objective on shares of Lululemon Athletica from $320.00 to $355.00 in a research report on Thursday. UBS Group decreased their target price on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Finally, Oppenheimer cut their price target on shares of Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $379.52.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $399.60 on Friday. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39. The stock’s 50-day moving average is $303.40 and its 200 day moving average is $287.81. The company has a market cap of $49.06 billion, a PE ratio of 28.85, a P/E/G ratio of 2.50 and a beta of 1.23.

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

Insider Activity at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors have recently bought and sold shares of the business. Value Star Asset Management Hong Kong Ltd raised its holdings in shares of Lululemon Athletica by 19,890.3% during the second quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after purchasing an additional 4,630,466 shares during the last quarter. International Assets Investment Management LLC grew its position in Lululemon Athletica by 74,856.2% during the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after purchasing an additional 894,531 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Lululemon Athletica in the 3rd quarter valued at about $93,476,000. The Manufacturers Life Insurance Company boosted its stake in shares of Lululemon Athletica by 136.3% in the third quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after buying an additional 305,302 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in Lululemon Athletica during the third quarter worth about $81,405,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

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.