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

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its price target cut by investment analysts at Truist Financial from $460.00 to $380.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a "buy" rating on the apparel retailer's stock. Truist Financial's price target points to a potential upside of 29.67% from the company's previous close.

LULU has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Lululemon Athletica from $292.00 to $396.00 and gave the stock a "hold" rating in a research report on Monday, December 9th. William Blair reissued an "outperform" rating on shares of Lululemon Athletica in a research note on Friday, December 6th. JPMorgan Chase & Co. cut their price target on Lululemon Athletica from $437.00 to $391.00 and set an "overweight" rating on the stock in a report on Friday. KeyCorp lowered 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. Finally, Citigroup cut their target price on shares of Lululemon Athletica from $380.00 to $330.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $380.72.

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Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock traded down $48.47 during midday trading on Friday, reaching $293.06. The company had a trading volume of 12,900,347 shares, compared to its average volume of 2,144,794. The stock has a fifty day moving average price of $364.63 and a 200 day moving average price of $340.22. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $423.32. The firm has a market cap of $35.69 billion, a PE ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the company earned $5.29 EPS. The company's revenue for the quarter was up 12.3% on a year-over-year basis. As a group, sell-side analysts forecast that Lululemon Athletica will post 14.36 EPS for the current year.

Institutional Trading of Lululemon Athletica

A number of institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in Lululemon Athletica by 95.7% in 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 purchasing an additional 2,371,079 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Lululemon Athletica by 14.9% in the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer's stock worth $1,681,682,000 after purchasing an additional 571,657 shares during the period. Geode Capital Management LLC lifted its stake in Lululemon Athletica by 0.4% in 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 last quarter. Capital World Investors grew its holdings in Lululemon Athletica by 34.6% during the fourth 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 period. Finally, Schroder Investment Management Group increased its position in Lululemon Athletica by 31.0% in the fourth quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer's stock worth $681,163,000 after buying an additional 421,890 shares during the last quarter. 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.