Lululemon Athletica (NASDAQ:LULU) PT Lowered to $310.00 at Truist Financial

Lululemon Athletica (NASDAQ:LULU) had its target price cut by Truist Financial from $415.00 to $310.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the apparel retailer’s stock.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Lululemon Athletica from $490.00 to $404.00 and set an overweight rating for the company in a report on Wednesday, May 29th. Sanford C. Bernstein upped their price target on shares of Lululemon Athletica from $376.00 to $382.00 and gave the company a market perform rating in a report on Friday, June 7th. Telsey Advisory Group reduced their price target on shares of Lululemon Athletica from $550.00 to $470.00 and set an outperform rating for the company in a report on Thursday, June 6th. Wedbush upped their price target on shares of Lululemon Athletica from $397.00 to $400.00 and gave the company an outperform rating in a report on Thursday, June 6th. Finally, Robert W. Baird reiterated an outperform rating and issued a $470.00 price target on shares of Lululemon Athletica in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $416.26.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $259.03 on Friday. The stock has a market cap of $32.38 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.26 and a beta of 1.26. The firm has a 50 day moving average price of $298.82 and a 200 day moving average price of $374.98. Lululemon Athletica has a 52-week low of $245.59 and a 52-week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.28 earnings per share. Analysts predict that Lululemon Athletica will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Lululemon Athletica

Several large investors have recently modified their holdings of LULU. Valley National Advisers Inc. grew its stake in shares of Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Tidemark LLC acquired a new position in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Scarborough Advisors LLC acquired a new position in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Benjamin Edwards Inc. grew its stake in shares of Lululemon Athletica by 176.0% in the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 44 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in Lululemon Athletica during the first quarter worth about $29,000. 85.20% of the stock is owned by institutional investors.

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.