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

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

A number of other research firms have also recently issued reports on LULU. Bank of America raised their price objective on Lululemon Athletica from $450.00 to $520.00 and gave the company a buy rating in a research report on Friday, December 8th. Citigroup dropped their price objective on shares of Lululemon Athletica from $520.00 to $500.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Sanford C. Bernstein upped their price target on shares of Lululemon Athletica from $400.00 to $430.00 and gave the company a market perform rating in a research note on Thursday, January 4th. Roth Capital raised their price objective on shares of Lululemon Athletica from $450.00 to $540.00 and gave the stock an outperform rating in a research report on Friday, December 8th. Finally, Raymond James increased their target price on Lululemon Athletica from $495.00 to $520.00 and gave the stock an outperform rating in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lululemon Athletica presently has a consensus rating of Moderate Buy and an average target price 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 stock has a 50 day moving average of $459.59 and a 200-day moving average of $442.32. The company has a market cap of $49.15 billion, a PE ratio of 31.90, a PEG ratio of 1.37 and a beta of 1.33.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. The company had revenue of $3.21 billion during 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% on a year-over-year basis. During the same quarter last year, the firm posted $4.40 EPS. As a group, sell-side analysts predict that Lululemon Athletica will post 14.24 EPS for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has authorized a share buyback plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the apparel retailer to buy up to 1.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds and other institutional investors have recently modified their holdings of LULU. MetLife Investment Management LLC acquired a new stake in Lululemon Athletica in the first quarter valued at about $2,696,000. Panagora Asset Management Inc. lifted its holdings in shares of Lululemon Athletica by 48.4% in the first quarter. Panagora Asset Management Inc. now owns 1,647 shares of the apparel retailer’s stock worth $602,000 after acquiring an additional 537 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Lululemon Athletica by 2.5% in the 1st quarter. Yousif Capital Management LLC now owns 4,022 shares of the apparel retailer’s stock valued at $1,469,000 after purchasing an additional 100 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Lululemon Athletica by 6.5% during the 1st quarter. Raymond James Trust N.A. now owns 1,251 shares of the apparel retailer’s stock valued at $457,000 after purchasing an additional 76 shares during the last quarter. Finally, Prudential PLC acquired a new position in Lululemon Athletica during the 1st quarter worth approximately $774,000. 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 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.