Lululemon Athletica (NASDAQ:LULU) Given New $360.00 Price Target at Truist Financial

Lululemon Athletica (NASDAQ:LULU) had its price target boosted by Truist Financial from $310.00 to $360.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the apparel retailer’s stock.

LULU has been the topic of a number of other reports. KeyCorp cut their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Lululemon Athletica in a research report on Monday, August 26th. JPMorgan Chase & Co. dropped their price target on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. UBS Group reduced their price objective on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Finally, Morgan Stanley lowered their target price on Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.16.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $319.23 on Tuesday. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $516.39. The business’s 50 day simple moving average is $276.41 and its two-hundred day simple moving average is $291.84. The firm has a market cap of $39.20 billion, a P/E ratio of 24.67, a PEG ratio of 2.34 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the business posted $2.68 EPS. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Lululemon Athletica will post 14.02 earnings per share for the current fiscal year.

Insider Activity

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of Lululemon Athletica

Several large investors have recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new stake in Lululemon Athletica in the third quarter worth $1,051,000. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Lululemon Athletica by 15.8% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 1,535 shares of the apparel retailer’s stock valued at $417,000 after buying an additional 209 shares in the last quarter. RPG Investment Advisory LLC bought a new stake in shares of Lululemon Athletica during the 3rd quarter valued at $7,599,000. Victory Capital Management Inc. grew its position in shares of Lululemon Athletica by 11.3% in the 3rd quarter. Victory Capital Management Inc. now owns 103,577 shares of the apparel retailer’s stock worth $28,106,000 after buying an additional 10,499 shares during the period. Finally, Prime Capital Investment Advisors LLC increased its stake in shares of Lululemon Athletica by 88.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,840 shares of the apparel retailer’s stock worth $1,856,000 after acquiring an additional 3,212 shares in the last quarter. 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.