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

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by stock analysts at Truist Financial from $460.00 to $380.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the apparel retailer’s stock. Truist Financial’s target price would indicate a potential upside of 30.44% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. UBS Group decreased their price target on Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating on the stock in a research note on Friday. TD Securities boosted their target price on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Morgan Stanley dropped their price target on Lululemon Athletica from $411.00 to $373.00 and set an “overweight” rating for the company in a research report on Friday. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Finally, Raymond James restated a “market perform” rating on shares of Lululemon Athletica in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus target price of $380.90.

Lululemon Athletica Stock Down 14.7 %

NASDAQ 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 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 has a 12-month low of $226.01 and a 12-month high of $423.32. The stock has a 50-day moving average of $366.25 and a 200 day moving average of $338.67.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Qsemble Capital Management LP acquired a new stake in shares of Lululemon Athletica in the third quarter worth $210,000. D.A. Davidson & CO. grew its stake 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 in the last quarter. Townsquare Capital LLC raised its holdings in shares of Lululemon Athletica by 47.9% during the 3rd quarter. Townsquare Capital LLC now owns 2,205 shares of the apparel retailer’s stock valued at $598,000 after buying an additional 714 shares during the period. Glenmede Trust Co. NA lifted 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 in the last quarter. Finally, CreativeOne Wealth LLC purchased a new position in Lululemon Athletica in the 3rd quarter worth approximately $274,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

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.