Truist Financial Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

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

A number of other research firms have also recently commented on LULU. Piper Sandler reduced their price target on shares of Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating for the company in a report on Friday, March 28th. Wells Fargo & Company reduced their target price on Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. KeyCorp decreased their target price on Lululemon Athletica from $420.00 to $400.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Barclays lowered their target price on Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Finally, William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $375.45.

Lululemon Athletica Stock Performance

Shares of LULU stock traded down $0.78 during mid-day trading on Wednesday, hitting $246.83. The company’s stock had a trading volume of 545,041 shares, compared to its average volume of 2,209,228. The company has a market cap of $30.06 billion, a PE ratio of 17.75, a P/E/G ratio of 2.22 and a beta of 1.31. The company’s fifty day simple moving average is $344.32 and its 200-day simple moving average is $339.66. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $423.32.

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

Institutional Trading of Lululemon Athletica

A number of large investors have recently modified their holdings of LULU. TCTC Holdings LLC bought a new stake in Lululemon Athletica during the fourth quarter valued at approximately $26,000. Anderson Financial Strategies LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at about $30,000. Kestra Investment Management LLC bought a new stake in Lululemon Athletica during the fourth quarter worth about $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth about $32,000. Finally, Asset Planning Inc bought a new position in shares of Lululemon Athletica during the 4th quarter valued at about $33,000. Institutional investors own 85.20% of the company’s stock.

About Lululemon Athletica

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.