Truist Financial Has Lowered Expectations for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its price target dropped by equities research analysts at Truist Financial from $460.00 to $380.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the apparel retailer’s stock. Truist Financial’s price target would suggest a potential upside of 30.44% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Oppenheimer boosted their price objective on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. TD Securities raised their price objective on shares of Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Bank of America decreased their target price on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating on the stock in a report on Friday. Finally, Guggenheim increased their price target on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $380.90.

Lululemon Athletica Stock Performance

Shares of LULU traded down $50.22 during trading hours on Friday, hitting $291.31. 9,326,410 shares of the stock were exchanged, compared to its average volume of 2,129,682. The stock’s 50-day moving average price is $366.25 and its two-hundred day moving average price is $338.67. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $423.32. The company has a market cap of $35.48 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $5.29 earnings per share. On average, research analysts expect that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LULU. Qsemble Capital Management LP purchased a new stake in Lululemon Athletica in the 3rd quarter valued at $210,000. D.A. Davidson & CO. raised its holdings in shares of Lululemon Athletica by 13.1% in the third quarter. D.A. Davidson & CO. now owns 3,074 shares of the apparel retailer’s stock valued at $834,000 after buying an additional 356 shares during the last quarter. Townsquare Capital LLC boosted its stake in shares of Lululemon Athletica by 47.9% during the third quarter. Townsquare Capital LLC now owns 2,205 shares of the apparel retailer’s stock worth $598,000 after buying an additional 714 shares during the period. Glenmede Trust Co. NA grew its holdings in shares of Lululemon Athletica by 18.9% during the third quarter. Glenmede Trust Co. NA now owns 1,614 shares of the apparel retailer’s stock worth $438,000 after buying an additional 256 shares during the last quarter. Finally, CreativeOne Wealth LLC acquired a new position in Lululemon Athletica in the 3rd quarter valued at about $274,000. Hedge funds and other 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.