Lululemon Athletica (NASDAQ:LULU) Stock Price Expected to Rise, Truist Financial Analyst Says

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

Other equities research analysts have also issued research reports about the company. KeyCorp raised their target price on Lululemon Athletica from $350.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. TD Cowen raised their price objective on shares of Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. TD Securities boosted their price objective on shares of Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Robert W. Baird increased their target price on shares of Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, UBS Group boosted their price target on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $382.73.

Lululemon Athletica Stock Up 0.6 %

Shares of Lululemon Athletica stock opened at $395.47 on Friday. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $491.30. The company has a 50 day moving average of $355.92 and a 200 day moving average of $301.81. The company has a market capitalization of $48.16 billion, a P/E 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 quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.18. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $2.53 EPS. As a group, research analysts anticipate that Lululemon Athletica will post 14.17 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Shepherd Financial Partners LLC purchased a new position in Lululemon Athletica in the 3rd quarter valued at approximately $953,000. XTX Topco Ltd increased its position in shares of Lululemon Athletica by 281.4% in the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after buying an additional 6,562 shares in the last quarter. Rheos Capital Works Inc. increased its position in shares of Lululemon Athletica by 19.2% in the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after buying an additional 2,500 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Lululemon Athletica by 198.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock worth $1,844,000 after buying an additional 4,564 shares during the last quarter. Finally, Caxton Associates LP boosted its position in shares of Lululemon Athletica by 6,702.7% in the 2nd quarter. Caxton Associates LP now owns 60,000 shares of the apparel retailer’s stock worth $17,922,000 after buying an additional 59,118 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.