Lululemon Athletica (NASDAQ:LULU) Given New $415.00 Price Target at Truist Financial (2024)

Lululemon Athletica (NASDAQ:LULU – Free Report) had its price target trimmed by Truist Financial from $498.00 to $415.00 in a report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the apparel retailer’s stock.

Several other equities analysts have also recently commented on LULU. Guggenheim reduced their price target on shares of Lululemon Athletica from $550.00 to $525.00 and set a buy rating on the stock in a research report on Friday, March 22nd. BNP Paribas cut shares of Lululemon Athletica from a neutral rating to an underperform rating and cut their target price for the stock from $430.00 to $415.00 in a report on Friday, February 9th. Needham & Company LLC cut their target price on shares of Lululemon Athletica from $525.00 to $500.00 and set a buy rating on the stock in a report on Friday, March 22nd. HSBC cut their target price on shares of Lululemon Athletica from $500.00 to $405.00 in a report on Wednesday, April 10th. Finally, Robert W. Baird cut their target price on shares of Lululemon Athletica from $555.00 to $505.00 and set an outperform rating on the stock in a report on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $449.35.

Get Our Latest Stock Analysis on Lululemon Athletica

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $306.62 on Monday. Lululemon Athletica has a one year low of $293.03 and a one year high of $516.39. The company’s 50-day simple moving average is $346.51 and its 200-day simple moving average is $425.97. The stock has a market capitalization of $38.64 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 1.48 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULU – Get Free Report) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, topping the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the company posted $4.40 earnings per share. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, research analysts forecast that Lululemon Athletica will post 14.1 EPS for the current year.

Insiders Place Their Bets

In other Lululemon Athletica news, Director Martha A. M. Morfitt purchased 700 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were purchased at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at approximately $194,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. WealthPlan Investment Management LLC acquired a new position in Lululemon Athletica in the 3rd quarter worth approximately $1,289,000. Merit Financial Group LLC boosted its stake in Lululemon Athletica by 7.7% in the 3rd quarter. Merit Financial Group LLC now owns 738 shares of the apparel retailer’s stock worth $285,000 after purchasing an additional 53 shares during the period. Great Lakes Advisors LLC boosted its stake in Lululemon Athletica by 932.3% in the 3rd quarter. Great Lakes Advisors LLC now owns 6,875 shares of the apparel retailer’s stock worth $2,651,000 after purchasing an additional 6,209 shares during the period. Kestra Private Wealth Services LLC boosted its stake in Lululemon Athletica by 1.9% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 4,033 shares of the apparel retailer’s stock worth $1,555,000 after purchasing an additional 77 shares during the period. Finally, Avantax Advisory Services Inc. acquired a new position in Lululemon Athletica in the 3rd quarter worth approximately $252,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

About Lululemon Athletica

(Get Free Report)

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.

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