Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $380.00 by Analysts at Truist Financial

Lululemon Athletica (NASDAQ:LULU) had its target price dropped by analysts at Truist Financial from $460.00 to $380.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the apparel retailer’s stock. Truist Financial’s price objective indicates a potential upside of 29.67% from the company’s current price.

LULU has been the topic of a number of other research reports. Needham & Company LLC lowered their price target on Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays dropped their price target on Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating for the company in a research report on Friday. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Guggenheim upped their price target on shares of Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company lowered their price target on shares of Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday. Two 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU opened at $293.06 on Friday. The company 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 has a 1-year low of $226.01 and a 1-year high of $423.32. The stock has a fifty day moving average price of $364.63 and a 200 day moving average price of $339.62.

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

Hedge Funds Weigh In On Lululemon Athletica

Several institutional investors have recently modified their holdings of LULU. Qsemble Capital Management LP bought a new position in Lululemon Athletica in the 3rd quarter worth about $210,000. D.A. Davidson & CO. increased its position in Lululemon Athletica by 13.1% in the 3rd quarter. D.A. Davidson & CO. now owns 3,074 shares of the apparel retailer’s stock valued at $834,000 after acquiring an additional 356 shares during the period. Townsquare Capital LLC increased its position in Lululemon Athletica by 47.9% in the 3rd quarter. Townsquare Capital LLC now owns 2,205 shares of the apparel retailer’s stock valued at $598,000 after acquiring an additional 714 shares during the period. Glenmede Trust Co. NA boosted its position in Lululemon Athletica by 18.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,614 shares of the apparel retailer’s stock worth $438,000 after acquiring an additional 256 shares during the period. Finally, CreativeOne Wealth LLC acquired a new stake in Lululemon Athletica in the third quarter worth about $274,000. 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.