Piper Sandler Cuts lululemon athletica (NASDAQ:LULU) Price Target to $200.00

lululemon athletica (NASDAQ:LULU) had its price target lowered by Piper Sandler from $270.00 to $200.00 in a research note issued on Tuesday, MarketBeat reports. The firm presently has a “neutral” rating on the apparel retailer’s stock. Piper Sandler’s price target would indicate a potential downside of 3.13% from the company’s previous close.

Several other equities research analysts have also commented on LULU. BTIG Research decreased their price objective on shares of lululemon athletica from $420.00 to $405.00 and set a “buy” rating for the company in a research note on Friday, June 6th. William Blair reiterated an “outperform” rating on shares of lululemon athletica in a research note on Thursday, April 3rd. TD Securities increased their price objective on shares of lululemon athletica from $370.00 to $373.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. Robert W. Baird decreased their price objective on shares of lululemon athletica from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, June 6th. Finally, CICC Research reiterated a “market perform” rating and issued a $280.49 price objective on shares of lululemon athletica in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

lululemon athletica Stock Performance

Shares of NASDAQ LULU opened at $206.47 on Tuesday. lululemon athletica has a fifty-two week low of $205.89 and a fifty-two week high of $423.32. The stock has a market cap of $24.75 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.82 and a beta of 1.17. The firm’s 50-day simple moving average is $253.41 and its 200 day simple moving average is $302.56.

lululemon athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting the consensus estimate of $2.60. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the firm earned $2.54 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that lululemon athletica will post 14.36 EPS for the current year.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald sold 27,049 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $235.69, for a total value of $6,375,178.81. Following the completion of the transaction, the chief executive officer directly owned 110,564 shares of the company’s stock, valued at approximately $26,058,829.16. This trade represents a 19.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LULU. Anderson Financial Strategies LLC bought a new position in lululemon athletica in the 4th quarter valued at $30,000. N.E.W. Advisory Services LLC bought a new position in lululemon athletica in the 1st quarter valued at $25,000. Cornerstone Planning Group LLC boosted its holdings in lululemon athletica by 506.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Flaharty Asset Management LLC bought a new position in lululemon athletica in the 1st quarter valued at $29,000. Finally, Zions Bancorporation National Association UT bought a new position in lululemon athletica in the 1st quarter valued at $31,000. 85.20% of the stock is owned by 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.