Lululemon Athletica (NASDAQ:LULU) PT Lowered to $498.00 at Truist Financial

Lululemon Athletica (NASDAQ:LULU) had its price objective trimmed by Truist Financial from $561.00 to $498.00 in a research report released on Monday morning, BayStreet.CA reports. The firm currently has a buy rating on the apparel retailer’s stock.

A number of other brokerages have also issued reports on LULU. Roth Capital raised their price target on Lululemon Athletica from $450.00 to $540.00 and gave the stock an outperform rating in a research note on Friday, December 8th. Wells Fargo & Company lowered their target price on shares of Lululemon Athletica from $450.00 to $425.00 and set an equal weight rating for the company in a report on Friday, March 22nd. Oppenheimer increased their price target on shares of Lululemon Athletica from $450.00 to $540.00 and gave the stock an outperform rating in a research note on Friday, December 8th. Guggenheim lowered their price objective on shares of Lululemon Athletica from $550.00 to $525.00 and set a buy rating for the company in a research note on Friday, March 22nd. Finally, UBS Group increased their target price on Lululemon Athletica from $429.00 to $470.00 and gave the stock a neutral rating in a research report on Friday, December 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $493.66.

Lululemon Athletica Trading Up 0.9 %

NASDAQ:LULU opened at $389.46 on Monday. Lululemon Athletica has a 12-month low of $314.22 and a 12-month high of $516.39. The firm has a market cap of $49.15 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.33. The company’s 50-day moving average is $459.59 and its two-hundred day moving average is $442.32.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.00 by $0.29. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.40 earnings per share. On average, equities research analysts forecast that Lululemon Athletica will post 14.24 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has approved a share buyback program on Thursday, December 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Lululemon Athletica

Several hedge funds and other institutional investors have recently bought and sold shares of LULU. Vanguard Group Inc. increased its holdings in shares of Lululemon Athletica by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after acquiring an additional 2,369,119 shares during the last quarter. State Street Corp increased its stake in Lululemon Athletica by 0.7% during the first quarter. State Street Corp now owns 2,633,648 shares of the apparel retailer’s stock valued at $959,144,000 after purchasing an additional 18,147 shares during the last quarter. Morgan Stanley raised its holdings in shares of Lululemon Athletica by 29.2% during the third quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after purchasing an additional 437,069 shares during the period. Schroder Investment Management Group lifted its position in shares of Lululemon Athletica by 20.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock worth $719,198,000 after buying an additional 310,347 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Lululemon Athletica by 3.2% in the 1st quarter. Geode Capital Management LLC now owns 1,659,260 shares of the apparel retailer’s stock valued at $603,418,000 after buying an additional 51,572 shares during the period. 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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.