Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $460.00 at Truist Financial

Lululemon Athletica (NASDAQ:LULU - Free Report) had its price target hoisted by Truist Financial from $420.00 to $460.00 in a research report report published on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the apparel retailer's stock.

Several other brokerages also recently issued reports on LULU. Morgan Stanley raised their price target on Lululemon Athletica from $345.00 to $414.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Raymond James raised their price target on Lululemon Athletica from $320.00 to $355.00 in a research report on Thursday, December 5th. Robert W. Baird raised their price target on Lululemon Athletica from $380.00 to $440.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. William Blair reissued an "outperform" rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Finally, Piper Sandler lifted their target price on Lululemon Athletica from $260.00 to $340.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $382.73.

Lululemon Athletica Trading Up 0.6 %

NASDAQ LULU traded up $2.55 during trading on Friday, hitting $395.47. 1,321,606 shares of the company traded hands, compared to its average volume of 1,375,541. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $491.30. The business has a fifty day simple moving average of $354.43 and a 200 day simple moving average of $301.28. The company has a market capitalization of $48.16 billion, a P/E ratio of 28.55, a PEG ratio of 2.78 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $2.53 earnings per share. The business's revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that Lululemon Athletica will post 14.17 EPS for the current fiscal year.

Insider Activity

In other news, insider Celeste Burgoyne sold 24,870 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the transaction, the insider now owns 12,429 shares of the company's stock, valued at $5,040,456.66. The trade was a 66.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicole Neuburger sold 2,022 shares of the company's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now directly owns 6,198 shares of the company's stock, valued at approximately $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Lululemon Athletica by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer's stock worth $669,036,000 after purchasing an additional 44,294 shares during the period. Legal & General Group Plc lifted its position in Lululemon Athletica by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer's stock worth $310,763,000 after buying an additional 37,239 shares in the last quarter. International Assets Investment Management LLC lifted its position in Lululemon Athletica by 74,856.2% during the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer's stock worth $243,055,000 after buying an additional 894,531 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Lululemon Athletica by 38.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer's stock worth $220,423,000 after buying an additional 203,882 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Lululemon Athletica by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 702,294 shares of the apparel retailer's stock worth $190,567,000 after buying an additional 19,808 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

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.