Truist Financial Forecasts Strong Price Appreciation for Lululemon Athletica (NASDAQ:LULU) Stock

Lululemon Athletica (NASDAQ:LULU) had its target price hoisted by investment analysts at Truist Financial from $420.00 to $460.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the apparel retailer’s stock. Truist Financial’s price objective points to a potential upside of 16.32% from the company’s previous close.

LULU has been the topic of several other reports. Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $360.00 to $460.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price objective on shares of Lululemon Athletica from $425.00 to $428.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird boosted their target price on shares of Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Barclays increased their price target on shares of Lululemon Athletica from $261.00 to $378.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, UBS Group upped their price objective on Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $382.73.

Lululemon Athletica Trading Up 0.6 %

Lululemon Athletica stock opened at $395.47 on Friday. The stock has a 50-day moving average price of $355.92 and a 200 day moving average price of $301.81. Lululemon Athletica has a 52 week low of $226.01 and a 52 week high of $491.30. The stock has a market cap of $48.16 billion, a PE ratio of 28.55, a P/E/G ratio of 2.78 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the company earned $2.53 EPS. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts predict that Lululemon Athletica will post 14.17 EPS for the current year.

Insiders Place Their Bets

In other Lululemon Athletica news, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the transaction, the insider now owns 12,429 shares of the company’s stock, valued at $5,040,456.66. The trade was a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the sale, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. This trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lululemon Athletica

A number of institutional investors have recently modified their holdings of LULU. Acadian Asset Management LLC acquired a new stake in Lululemon Athletica in the second quarter worth $1,011,000. Quest Partners LLC increased its holdings in shares of Lululemon Athletica by 145.5% in the 2nd quarter. Quest Partners LLC now owns 1,679 shares of the apparel retailer’s stock worth $502,000 after acquiring an additional 995 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Lululemon Athletica in the 2nd quarter valued at about $36,000. AGF Management Ltd. boosted its stake in Lululemon Athletica by 627.8% during the 2nd quarter. AGF Management Ltd. now owns 8,050 shares of the apparel retailer’s stock valued at $2,405,000 after purchasing an additional 6,944 shares during the period. Finally, HHM Wealth Advisors LLC grew its position in Lululemon Athletica by 66.7% in the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock worth $34,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Company Profile

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.