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

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

LULU has been the subject of a number of other reports. TD Securities upped their price objective on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Bank of America lowered their target price on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a research note on Friday. BMO Capital Markets decreased their price objective on Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating for the company in a report on Friday. TD Cowen boosted their target price on Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Finally, Guggenheim increased their price target on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock opened at $293.06 on Friday. The stock 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 firm’s 50-day moving average is $364.63 and its two-hundred day moving average is $338.98. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Investment Partners Asset Management Inc. acquired a new position in Lululemon Athletica in the 4th quarter valued at $275,000. Rockefeller Capital Management L.P. raised its position in shares of Lululemon Athletica by 50.5% in the third quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after buying an additional 34,704 shares during the last quarter. Lebenthal Global Advisors LLC lifted its stake in shares of Lululemon Athletica by 138.1% in the fourth quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock worth $1,032,000 after buying an additional 1,565 shares in the last quarter. Montag A & Associates Inc. boosted its position in Lululemon Athletica by 495.1% during the fourth quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock worth $1,627,000 after acquiring an additional 3,540 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new stake in Lululemon Athletica during the 4th quarter valued at about $17,775,000. 85.20% of the stock is owned by hedge funds and other 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.