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

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its price objective lowered by Truist Financial from $297.00 to $290.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the apparel retailer's stock. Truist Financial's price target points to a potential upside of 9.32% from the stock's previous close.

A number of other analysts also recently commented on LULU. Evercore ISI boosted their target price on Lululemon Athletica from $320.00 to $400.00 and gave the stock an "outperform" rating in a research report on Tuesday. The Goldman Sachs Group decreased their price objective on shares of Lululemon Athletica from $363.00 to $302.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. BTIG Research cut their target price on shares of Lululemon Athletica from $420.00 to $405.00 and set a "buy" rating for the company in a research report on Friday. Cfra Research upgraded shares of Lululemon Athletica from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Finally, Bank of America dropped their price objective on shares of Lululemon Athletica from $480.00 to $400.00 and set a "buy" rating for the company in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $347.72.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU traded down $65.51 during trading on Friday, hitting $265.27. 16,083,546 shares of the company were exchanged, compared to its average volume of 2,176,894. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $423.32. The company has a market cap of $32.00 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.22 and a beta of 1.26. The firm's fifty day moving average price is $286.22 and its 200 day moving average price is $338.13.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, hitting analysts' consensus estimates of $2.60. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $2.54 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. On average, research analysts forecast that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth $429,000. DAVENPORT & Co LLC grew its position in Lululemon Athletica by 26.6% during the fourth quarter. DAVENPORT & Co LLC now owns 957 shares of the apparel retailer's stock valued at $366,000 after acquiring an additional 201 shares during the period. Mather Group LLC. grew its position in Lululemon Athletica by 21.1% during the fourth quarter. Mather Group LLC. now owns 178 shares of the apparel retailer's stock valued at $68,000 after acquiring an additional 31 shares during the period. Robertson Stephens Wealth Management LLC acquired a new stake in Lululemon Athletica during the fourth quarter worth about $250,000. Finally, YANKCOM Partnership purchased a new position in shares of Lululemon Athletica in the 4th quarter worth about $98,000. 85.20% of the stock is currently 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.