Truist Financial Forecasts Strong Price Appreciation for Lululemon Athletica (NASDAQ:LULU) Stock

Lululemon Athletica (NASDAQ:LULU) had its price objective boosted by analysts at Truist Financial from $420.00 to $460.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the apparel retailer’s stock. Truist Financial’s target price indicates a potential upside of 17.39% from the stock’s previous close.

A number of other analysts have also recently weighed in on LULU. JPMorgan Chase & Co. boosted their price objective on shares of Lululemon Athletica from $425.00 to $428.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Securities boosted their target price 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. TD Cowen lifted their price objective on Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Raymond James increased their target price on Lululemon Athletica from $320.00 to $355.00 in a research note on Thursday, December 5th. Finally, Needham & Company LLC raised Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price target on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average price target of $382.73.

Lululemon Athletica Stock Down 0.3 %

Shares of Lululemon Athletica stock traded down $1.08 on Friday, hitting $391.84. 469,958 shares of the company traded hands, compared to its average volume of 1,229,803. The company has a 50-day moving average price of $354.43 and a 200 day moving average price of $301.28. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $491.30. The company has a market cap of $47.72 billion, a PE ratio of 28.29, a PEG ratio of 2.78 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.53 earnings per share. Equities research analysts anticipate that Lululemon Athletica will post 14.17 EPS for the current year.

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 2,022 shares of the 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 sale, the insider now owns 6,198 shares in the company, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction dated 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 directly owns 12,429 shares of the company’s stock, valued at $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Lululemon Athletica

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after purchasing an additional 894,531 shares during the period. Maverick Capital Ltd. acquired a new stake in shares of Lululemon Athletica during the 3rd quarter worth approximately $93,476,000. The Manufacturers Life Insurance Company raised its stake in shares of Lululemon Athletica by 136.3% during the third quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after buying an additional 305,302 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in Lululemon Athletica in the third quarter valued at approximately $81,405,000. Finally, River Road Asset Management LLC bought a new position in Lululemon Athletica in the third quarter valued at approximately $79,503,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.