Truist Financial Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $297.00

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by Truist Financial from $380.00 to $297.00 in a research report report published on Wednesday, Marketbeat.com reports. They currently have a buy rating on the apparel retailer’s stock.

A number of other research analysts have also weighed in on the company. Evercore ISI raised their price objective on Lululemon Athletica from $440.00 to $495.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Needham & Company LLC reduced their price objective on Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Oppenheimer upped their price objective on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Raymond James reissued a “market perform” rating and issued a $430.00 target price on shares of Lululemon Athletica in a report on Friday, March 28th. Finally, Barclays decreased their price target on shares of Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $371.79.

Lululemon Athletica Stock Up 1.7 %

NASDAQ:LULU opened at $261.03 on Wednesday. The business’s 50-day simple moving average is $332.40 and its two-hundred day simple moving average is $339.26. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32. The stock has a market cap of $31.49 billion, a PE ratio of 18.85, a P/E/G ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the company earned $5.29 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Trading of Lululemon Athletica

A number of large investors have recently modified their holdings of the company. Beacon Capital Management LLC raised its position 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. increased its stake 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 period. SeaCrest Wealth Management LLC raised its holdings in shares of Lululemon Athletica by 2.6% in the fourth 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 in the last quarter. Dnca Finance lifted its stake in Lululemon Athletica by 15.1% in the fourth quarter. Dnca Finance now owns 198 shares of the apparel retailer’s stock worth $76,000 after acquiring an additional 26 shares during the period. Finally, Capital Advisors Ltd. LLC grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

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.