Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $420.00 at Truist Financial

Lululemon Athletica (NASDAQ:LULU) had its price target lifted by Truist Financial from $360.00 to $420.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the apparel retailer’s stock.

A number of other research analysts have also recently weighed in on the company. Sanford C. Bernstein dropped their price target on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, August 30th. KeyCorp upped their price target on shares of Lululemon Athletica from $350.00 to $400.00 and gave the company an “overweight” rating in a report on Friday. TD Cowen lowered their price target on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Wells Fargo & Company cut their price objective on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $379.52.

Lululemon Athletica Trading Up 15.9 %

LULU stock opened at $399.60 on Friday. The company’s 50-day moving average price is $303.40 and its 200 day moving average price is $287.81. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $516.39. The company has a market cap of $49.06 billion, a P/E ratio of 28.85, a P/E/G ratio of 2.50 and a beta of 1.23.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly 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 business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.53 EPS. On average, equities research analysts expect that Lululemon Athletica will post 13.93 earnings per share for the current year.

Insider Activity

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Value Star Asset Management Hong Kong Ltd grew its holdings in Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock valued at $1,390,074,000 after purchasing an additional 4,630,466 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Lululemon Athletica by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer’s stock valued at $669,036,000 after purchasing an additional 44,294 shares during the last quarter. American Century Companies Inc. increased its holdings in Lululemon Athletica by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after purchasing an additional 82,731 shares during the last quarter. Legal & General Group Plc raised its position in shares of Lululemon Athletica by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock valued at $310,763,000 after purchasing an additional 37,239 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Lululemon Athletica by 74,856.2% during the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock valued at $243,055,000 after buying an additional 894,531 shares during the last quarter. 85.20% of the stock is 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.