Lululemon Athletica (NASDAQ:LULU) PT Lowered to $310.00 at Truist Financial

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by Truist Financial from $415.00 to $310.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the apparel retailer’s stock.

Several other research analysts have also recently commented on the company. Telsey Advisory Group lowered their target price on Lululemon Athletica from $550.00 to $470.00 and set an outperform rating for the company in a research note on Thursday, June 6th. Wells Fargo & Company decreased their price target on Lululemon Athletica from $425.00 to $350.00 and set an equal weight rating for the company in a report on Thursday, June 6th. BTIG Research initiated coverage on Lululemon Athletica in a report on Wednesday, May 8th. They set a buy rating and a $425.00 price target for the company. TD Cowen decreased their price target on Lululemon Athletica from $447.00 to $420.00 and set a buy rating for the company in a report on Thursday, July 25th. Finally, UBS Group decreased their price target on Lululemon Athletica from $475.00 to $385.00 and set a neutral rating for the company in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $416.26.

Lululemon Athletica Price Performance

LULU opened at $259.03 on Friday. Lululemon Athletica has a 12 month low of $245.59 and a 12 month high of $516.39. The stock has a market capitalization of $32.38 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.26 and a beta of 1.26. The business has a fifty day moving average price of $298.82 and a 200 day moving average price of $374.98.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm posted $2.28 EPS. Lululemon Athletica’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts anticipate that Lululemon Athletica will post 14.29 earnings per share for the current year.

Lululemon Athletica announced that its board has approved a stock buyback plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Lululemon Athletica

Several institutional investors and hedge funds have recently added to or reduced their stakes in LULU. Valley National Advisers Inc. increased its position in Lululemon Athletica by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 42 shares during the period. Tidemark LLC purchased a new stake in Lululemon Athletica in the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter worth $26,000. Morton Brown Family Wealth LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter worth $31,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Lululemon Athletica in the 4th quarter worth $31,000. 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.