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

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by Truist Financial from $460.00 to $380.00 in a report released on Friday, MarketBeat Ratings reports. They currently have a buy rating on the apparel retailer’s stock.

Other equities research analysts have also issued reports about the company. Raymond James restated a “market perform” rating and issued a $430.00 price objective on shares of Lululemon Athletica in a research note on Friday. Citigroup decreased their price objective on Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. cut their price objective on Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating for the company in a research note on Friday. Telsey Advisory Group reduced their target price on shares of Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a report on Friday. Finally, Bank of America lowered their price target on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $380.72.

Lululemon Athletica Stock Performance

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

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

Hedge Funds Weigh In On Lululemon Athletica

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in shares of Lululemon Athletica by 95.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after buying an additional 2,371,079 shares in the last quarter. Alliancebernstein L.P. increased its stake in Lululemon Athletica by 14.9% during the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock worth $1,681,682,000 after acquiring an additional 571,657 shares during the last quarter. Geode Capital Management LLC raised its position in Lululemon Athletica by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer’s stock valued at $947,682,000 after purchasing an additional 10,461 shares during the period. Capital World Investors lifted its stake in shares of Lululemon Athletica by 34.6% in the 4th quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer’s stock valued at $827,338,000 after purchasing an additional 556,406 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Lululemon Athletica by 31.0% in the 4th quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock worth $681,163,000 after purchasing an additional 421,890 shares during the period. Institutional investors own 85.20% of the company’s stock.

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.