Lululemon Athletica (NASDAQ:LULU) Coverage Initiated at Truist Financial

Truist Financial initiated coverage on shares of Lululemon Athletica (NASDAQ:LULU) in a report published on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $500.00 price objective on the apparel retailer’s stock.

LULU has been the topic of a number of other research reports. Citigroup set a $450.00 price objective on shares of Lululemon Athletica and gave the stock a buy rating in a research note on Friday, September 1st. KeyCorp lifted their price target on Lululemon Athletica from $425.00 to $450.00 and gave the stock an overweight rating in a report on Friday, September 1st. HSBC assumed coverage on shares of Lululemon Athletica in a report on Monday, September 18th. They issued a buy rating and a $500.00 price objective on the stock. Piper Sandler lifted their target price on Lululemon Athletica from $450.00 to $455.00 and gave the company an overweight rating in a research report on Friday, September 1st. Finally, Barclays lifted their target price on Lululemon Athletica from $430.00 to $480.00 and gave the company an overweight rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $445.94.

Lululemon Athletica Stock Up 1.5 %

Shares of Lululemon Athletica stock opened at $428.58 on Friday. The firm has a market capitalization of $54.46 billion, a P/E ratio of 54.25, a PEG ratio of 1.87 and a beta of 1.34. The company has a 50 day moving average price of $394.29 and a 200 day moving average price of $381.69. Lululemon Athletica has a 52 week low of $286.58 and a 52 week high of $437.05.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 31st. The apparel retailer reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.14. Lululemon Athletica had a net margin of 11.40% and a return on equity of 44.47%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the company earned $2.20 EPS. Lululemon Athletica’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, research analysts anticipate that Lululemon Athletica will post 12.15 earnings per share for the current fiscal year.

Insider Transactions at Lululemon Athletica

In other news, insider Michelle Sun Choe sold 27,981 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $401.00, for a total transaction of $11,220,381.00. Following the completion of the sale, the insider now owns 3,892 shares in the company, valued at $1,560,692. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Lululemon Athletica by 153,372.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 45,174,485 shares of the apparel retailer’s stock valued at $17,098,543,000 after acquiring an additional 45,145,050 shares during the last quarter. BlackRock Inc. grew its stake in Lululemon Athletica by 4.3% during the 1st quarter. BlackRock Inc. now owns 7,775,942 shares of the apparel retailer’s stock valued at $2,831,920,000 after purchasing an additional 323,518 shares in the last quarter. Jennison Associates LLC grew its stake in Lululemon Athletica by 8.0% during the 2nd quarter. Jennison Associates LLC now owns 4,781,168 shares of the apparel retailer’s stock valued at $1,809,672,000 after purchasing an additional 353,349 shares in the last quarter. State Street Corp grew its stake in Lululemon Athletica by 0.7% during the 1st quarter. State Street Corp now owns 2,633,648 shares of the apparel retailer’s stock valued at $959,144,000 after purchasing an additional 18,147 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Lululemon Athletica by 29.2% in the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after acquiring an additional 437,069 shares in the last quarter. Institutional investors and hedge funds own 91.50% 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.