Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $297.00 by Analysts at Truist Financial

Lululemon Athletica (NASDAQ:LULU) had its price target reduced by research analysts at Truist Financial from $380.00 to $297.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the apparel retailer’s stock. Truist Financial’s price objective suggests a potential upside of 20.33% from the company’s current price.

Several other equities research analysts have also issued reports on LULU. Stifel Nicolaus lowered their price target on shares of Lululemon Athletica from $438.00 to $424.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. UBS Group dropped 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, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. William Blair restated an “outperform” rating on shares of Lululemon Athletica in a research note on Thursday, April 3rd. Finally, Telsey Advisory Group decreased their price target on shares of Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating on the stock in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $375.45.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock traded down $0.78 on Wednesday, hitting $246.83. 545,041 shares of the company’s stock traded hands, compared to its average volume of 2,209,228. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32. The firm’s 50-day moving average price is $344.32 and its two-hundred day moving average price is $339.66. The stock has a market capitalization of $30.06 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU) last issued its 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. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.29 earnings per share. On average, analysts forecast that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Lululemon Athletica by 95.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after acquiring an additional 2,371,079 shares during the period. Mawer Investment Management Ltd. acquired a new position in Lululemon Athletica during the 4th quarter worth about $523,520,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Lululemon Athletica in the 4th quarter valued at about $370,062,000. Alliancebernstein L.P. increased its stake in shares of Lululemon Athletica by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after buying an additional 571,657 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Lululemon Athletica by 37,062.1% during the first quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer’s stock worth $159,364,000 after acquiring an additional 561,491 shares during the last quarter. Institutional investors and hedge funds 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.