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

Lululemon Athletica (NASDAQ:LULU) had its price objective trimmed by Truist Financial from $297.00 to $290.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the apparel retailer’s stock.

LULU has been the topic of several other reports. The Goldman Sachs Group cut their price target on shares of Lululemon Athletica from $363.00 to $302.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Cfra Research raised Lululemon Athletica from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a report on Thursday, April 3rd. TD Securities upped their target price on Lululemon Athletica from $370.00 to $373.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. Finally, Raymond James reaffirmed a “market perform” rating and set a $430.00 price target on shares of Lululemon Athletica in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $344.96.

Lululemon Athletica Stock Performance

LULU opened at $265.27 on Friday. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32. The company has a market cap of $32.00 billion, a P/E ratio of 19.15, a PEG ratio of 2.22 and a beta of 1.26. The business’s 50-day simple moving average is $285.93 and its 200-day simple moving average is $338.24.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, meeting the consensus estimate of $2.60. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm posted $2.54 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lululemon Athletica

A number of large investors have recently added to or reduced their stakes in LULU. N.E.W. Advisory Services LLC purchased a new position in shares of Lululemon Athletica during the 1st quarter worth approximately $25,000. TCTC Holdings LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at $26,000. Cornerstone Planning Group LLC boosted its stake in shares of Lululemon Athletica by 506.3% during the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in Lululemon Athletica during the 1st quarter worth about $29,000. Finally, Anderson Financial Strategies LLC acquired a new position in Lululemon Athletica in the 4th quarter valued at about $30,000. 85.20% of the stock is owned by institutional investors and hedge funds.

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.