Truist Financial Lowers Lululemon Athletica (NASDAQ:LULU) Price Target to $380.00

Lululemon Athletica (NASDAQ:LULU) had its price objective decreased by Truist Financial from $460.00 to $380.00 in a research note published on Friday, Marketbeat reports. Truist Financial currently has a buy rating on the apparel retailer’s stock.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Needham & Company LLC lowered their price target on Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. Bank of America reduced their price objective on Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating on the stock in a report on Friday. Barclays lowered their target price on Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Morgan Stanley cut their price target on Lululemon Athletica from $411.00 to $373.00 and set an “overweight” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $293.06 on Friday. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32. The company has a market cap of $35.69 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21. The business’s 50 day moving average price is $364.63 and its 200-day moving average price is $340.22.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the firm posted $5.29 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current year.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently modified their holdings of LULU. Beacon Capital Management LLC increased its stake in Lululemon Athletica by 6.9% during the 4th quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer’s stock valued at $142,000 after purchasing an additional 24 shares in the last quarter. Edgestream Partners L.P. grew its holdings in shares of Lululemon Athletica by 0.7% during the fourth quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer’s stock valued at $1,353,000 after buying an additional 25 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in shares of Lululemon Athletica by 2.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock valued at $389,000 after acquiring an additional 26 shares during the period. Dnca Finance raised its stake in Lululemon Athletica by 15.1% in the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer’s stock worth $76,000 after acquiring an additional 26 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in Lululemon Athletica by 9.4% during the 4th quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer’s stock worth $124,000 after acquiring an additional 28 shares during the period. 85.20% of the stock is 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.