Lululemon Athletica (NASDAQ:LULU) Price Target Raised to $460.00 at Truist Financial

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

A number of other brokerages have also recently commented on LULU. Raymond James upped their target price on shares of Lululemon Athletica from $320.00 to $355.00 in a report on Thursday, December 5th. Telsey Advisory Group upped their price objective on Lululemon Athletica from $360.00 to $430.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Piper Sandler lifted their target price on Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. TD Securities boosted their target price on Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI increased their price target on Lululemon Athletica from $300.00 to $355.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average target price of $382.73.

Lululemon Athletica Stock Up 0.6 %

NASDAQ:LULU opened at $395.47 on Friday. The company has a market capitalization 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 has a 52-week low of $226.01 and a 52-week high of $491.30. The stock’s 50 day moving average price is $355.92 and its 200 day moving average price is $301.86.

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

Insiders Place Their Bets

In other news, insider Nicole Neuburger sold 2,022 shares of the business’s 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 transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the completion of the transaction, the insider now owns 12,429 shares in the company, valued at approximately $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. 0.48% of the stock is currently owned by company insiders.

Institutional Trading of Lululemon Athletica

Several hedge funds and other institutional investors have recently bought and sold shares of LULU. Paladin Wealth LLC acquired a new stake in shares of Lululemon Athletica during the third quarter worth $29,000. JFS Wealth Advisors LLC lifted its position in Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after buying an additional 65 shares during the period. HHM Wealth Advisors LLC lifted its position 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 buying an additional 46 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Lululemon Athletica in the 2nd quarter worth about $36,000. Finally, Armstrong Advisory Group Inc. increased its stake in shares of Lululemon Athletica by 110.1% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock valued at $39,000 after acquiring an additional 76 shares during 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.