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

Key Points

• Piper Sandler has significantly reduced its target price for lululemon athletica's stock from $270.00 to $200.00, indicating a potential downside of 7.66% from the current price.
• The overall sentiment from analysts is mixed, with one sell rating, thirteen hold ratings, and sixteen buy ratings, leading to an average rating of "Moderate Buy" with a target price of $333.57.
• Company CEO Calvin McDonald sold 27,049 shares of lululemon athletica, representing a 19.66% decrease in his position, amidst a backdrop of mixed earnings results with a reported $2.60 EPS for the last quarter.

lululemon athletica (NASDAQ:LULU - Free Report) had its price target cut by Piper Sandler from $270.00 to $200.00 in a research report report published on Tuesday, MarketBeat reports. They currently have a neutral rating on the apparel retailer's stock.

Other equities analysts also recently issued reports about the company. Barclays dropped their target price on lululemon athletica from $276.00 to $270.00 and set an "equal weight" rating for the company in a research report on Monday, June 9th. Citigroup cut their price objective on lululemon athletica from $325.00 to $270.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Evercore ISI upped their price target on lululemon athletica from $320.00 to $400.00 and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. BTIG Research lowered their price objective on lululemon athletica from $420.00 to $405.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, Jefferies Financial Group decreased their price target on shares of lululemon athletica from $220.00 to $200.00 and set an "underperform" rating for the company in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $333.57.

lululemon athletica Trading Down 3.5%

lululemon athletica stock traded down $7.57 during mid-day trading on Tuesday, hitting $206.47. The company's stock had a trading volume of 3,831,714 shares, compared to its average volume of 2,830,384. lululemon athletica has a 1 year low of $205.89 and a 1 year high of $423.32. The firm has a market capitalization of $24.75 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.82 and a beta of 1.17. The stock's fifty day moving average is $253.41 and its two-hundred day moving average is $302.56.

lululemon athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.60. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. lululemon athletica's revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 EPS. On average, equities analysts expect that lululemon athletica will post 14.36 EPS for the current fiscal year.

Insider Activity at lululemon athletica

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 110,564 shares of the company's stock, valued at $26,058,829.16. This trade represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On lululemon athletica

Institutional investors have recently made changes to their positions in the stock. Twin Capital Management Inc. increased its position in lululemon athletica by 58.3% in the first quarter. Twin Capital Management Inc. now owns 3,676 shares of the apparel retailer's stock worth $1,041,000 after buying an additional 1,354 shares during the period. Narwhal Capital Management increased its holdings in shares of lululemon athletica by 262.7% in the 1st quarter. Narwhal Capital Management now owns 18,777 shares of the apparel retailer's stock worth $5,315,000 after acquiring an additional 13,600 shares during the period. Sawgrass Asset Management LLC acquired a new position in lululemon athletica during the 1st quarter valued at about $9,209,000. Flossbach Von Storch SE grew its position in lululemon athletica by 10.3% in the 1st quarter. Flossbach Von Storch SE now owns 1,401,885 shares of the apparel retailer's stock worth $396,818,000 after purchasing an additional 130,565 shares during the last quarter. Finally, Bender Robert & Associates increased its stake in shares of lululemon athletica by 18.5% in the first quarter. Bender Robert & Associates now owns 44,961 shares of the apparel retailer's stock valued at $12,727,000 after purchasing an additional 7,028 shares during the period. 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.