Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $315.00 at Piper Sandler

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its target price increased by investment analysts at Piper Sandler from $280.00 to $315.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the apparel retailer's stock. Piper Sandler's target price would suggest a potential downside of 6.02% from the company's current price.

Several other research analysts have also recently issued reports on LULU. Raymond James reiterated a "market perform" rating and issued a $430.00 price objective on shares of Lululemon Athletica in a research report on Friday, March 28th. Argus cut Lululemon Athletica from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Bank of America decreased their price target on Lululemon Athletica from $480.00 to $400.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. KeyCorp reduced their price objective on Lululemon Athletica from $420.00 to $400.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Finally, Robert W. Baird reduced their price objective on Lululemon Athletica from $450.00 to $370.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Lululemon Athletica presently has an average rating of "Moderate Buy" and an average target price of $367.10.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock traded up $0.28 on Tuesday, reaching $335.19. 2,289,625 shares of the company were exchanged, compared to its average volume of 2,165,825. The company has a market cap of $40.44 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $423.32. The stock's 50 day moving average price is $284.42 and its 200-day moving average price is $338.00.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.85 by $0.29. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company's revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.29 earnings per share. On average, research analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Lululemon Athletica by 1.2% during the first quarter. Vanguard Group Inc. now owns 13,266,929 shares of the apparel retailer's stock valued at $3,755,337,000 after buying an additional 157,764 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Lululemon Athletica by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,010,908 shares of the apparel retailer's stock valued at $1,418,389,000 after acquiring an additional 162,295 shares during the period. Alliancebernstein L.P. boosted its position in shares of Lululemon Athletica by 9.0% in the first quarter. Alliancebernstein L.P. now owns 4,792,294 shares of the apparel retailer's stock valued at $1,356,507,000 after acquiring an additional 394,706 shares during the period. Geode Capital Management LLC boosted its position in shares of Lululemon Athletica by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer's stock valued at $947,682,000 after acquiring an additional 10,461 shares during the period. Finally, Capital World Investors lifted its position 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 worth $827,338,000 after purchasing an additional 556,406 shares during the period. Hedge funds and other institutional investors own 85.20% of the company's stock.

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.