Lululemon Athletica (NASDAQ:LULU) Given New $460.00 Price Target at Truist Financial

Lululemon Athletica (NASDAQ:LULU) had its price objective increased by Truist Financial from $420.00 to $460.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the apparel retailer’s stock.

Other equities research analysts have also issued research reports about the company. Barclays upped their price objective on Lululemon Athletica from $261.00 to $378.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a report on Friday, December 6th. TD Securities lifted their price objective on shares of Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Piper Sandler increased their target price on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price target for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $382.73.

Lululemon Athletica Price Performance

NASDAQ:LULU opened at $395.47 on Friday. The firm has a market capitalization of $48.16 billion, a P/E ratio of 28.55, a PEG ratio of 2.78 and a beta of 1.18. The company’s fifty day moving average price is $355.92 and its 200-day moving average price is $301.86. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $491.30.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm earned $2.53 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Lululemon Athletica will post 14.17 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Lululemon Athletica

Several institutional investors have recently modified their holdings of LULU. Paladin Wealth LLC purchased a new stake in Lululemon Athletica during the 3rd quarter worth about $29,000. HHM Wealth Advisors LLC lifted its stake in Lululemon Athletica by 66.7% during the second 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. JFS Wealth Advisors LLC boosted its holdings in Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 65 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Lululemon Athletica in the second quarter valued at approximately $36,000. Finally, Armstrong Advisory Group Inc. raised its holdings in Lululemon Athletica by 110.1% during the third quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock worth $39,000 after purchasing an additional 76 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

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.