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

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its target price dropped by equities researchers at Truist Financial from $380.00 to $297.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has a "buy" rating on the apparel retailer's stock. Truist Financial's target price would indicate a potential upside of 15.63% from the company's previous close.

LULU has been the subject of a number of other reports. Needham & Company LLC cut 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. Morgan Stanley cut their target price on shares of Lululemon Athletica from $411.00 to $373.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Evercore ISI upped their price target on shares of Lululemon Athletica from $440.00 to $495.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. KeyCorp dropped their price objective on shares of Lululemon Athletica from $420.00 to $400.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Finally, UBS Group decreased their target price on shares of Lululemon Athletica from $376.00 to $335.00 and set a "neutral" rating on the stock in a research report on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Lululemon Athletica has an average rating of "Moderate Buy" and an average price target of $371.79.

Lululemon Athletica Stock Down 1.6 %

LULU stock traded down $4.17 during midday trading on Wednesday, hitting $256.86. The company's stock had a trading volume of 913,676 shares, compared to its average volume of 2,232,745. The firm has a market capitalization of $30.99 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The company has a 50 day moving average of $332.40 and a two-hundred day moving average of $339.76.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results 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. 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 period in the previous year, the firm posted $5.29 EPS. Lululemon Athletica's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently bought and sold shares of LULU. Price T Rowe Associates Inc. MD lifted its stake in Lululemon Athletica by 95.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer's stock worth $1,854,160,000 after acquiring an additional 2,371,079 shares during the period. Mawer Investment Management Ltd. bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $523,520,000. Diamond Hill Capital Management Inc. purchased a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $370,062,000. Alliancebernstein L.P. boosted its stake in shares of Lululemon Athletica by 14.9% during the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer's stock valued at $1,681,682,000 after purchasing an additional 571,657 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Lululemon Athletica by 37,062.1% during the first quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer's stock valued at $159,364,000 after buying an additional 561,491 shares during the period. 85.20% of the stock is owned by 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.