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

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 lowered by Piper Sandler from $270.00 to $200.00 in a report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the apparel retailer's stock.

Other research analysts have also issued reports about the company. Truist Financial cut their price objective on lululemon athletica from $297.00 to $290.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. Stifel Nicolaus cut their price objective on lululemon athletica from $353.00 to $324.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. 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. Morgan Stanley reissued an "equal weight" rating and issued a $280.00 price objective (down from $346.00) on shares of lululemon athletica in a research report on Monday, June 9th. Finally, Evercore ISI raised their target price on lululemon athletica from $320.00 to $400.00 and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, lululemon athletica currently has an average rating of "Moderate Buy" and an average target price of $333.57.

lululemon athletica Trading Down 3.6%

Shares of lululemon athletica stock traded down $7.20 during trading hours on Tuesday, reaching $193.33. 4,678,061 shares of the company's stock were exchanged, compared to its average volume of 2,882,063. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.71 and a beta of 1.17. The company has a fifty day moving average of $248.66 and a 200-day moving average of $299.85. lululemon athletica has a 52-week low of $191.44 and a 52-week high of $423.32.

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

Insiders Place Their Bets

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the transaction, the chief executive officer directly owned 110,564 shares in the company, valued at approximately $26,058,829.16. The trade was a 19.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On lululemon athletica

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anderson Financial Strategies LLC purchased a new position in lululemon athletica during the 4th quarter worth approximately $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of lululemon athletica during the 1st quarter valued at $25,000. Cornerstone Planning Group LLC grew its holdings in shares of lululemon athletica by 506.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in shares of lululemon athletica during the 1st quarter valued at $29,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of lululemon athletica during the 1st quarter valued at $31,000. 85.20% of the stock is currently owned by hedge funds and other 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.