Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $400.00 by Analysts at Citigroup

Lululemon Athletica (NASDAQ:LULU) had its price objective reduced by Citigroup from $435.00 to $400.00 in a report released on Tuesday morning, The Fly reports.

Several other brokerages have also recently commented on LULU. Argus boosted their target price on shares of Lululemon Athletica from $500.00 to $530.00 and gave the company a buy rating in a research report on Wednesday, December 1st. MKM Partners boosted their target price on shares of Lululemon Athletica from $468.00 to $485.00 and gave the company a buy rating in a research report on Friday, December 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lululemon Athletica from $486.00 to $484.00 and set a buy rating for the company in a research report on Friday, December 10th. Truist Securities began coverage on shares of Lululemon Athletica in a research report on Thursday, December 16th. They issued a hold rating and a $435.00 target price for the company. Finally, Telsey Advisory Group decreased their price target on shares of Lululemon Athletica from $515.00 to $470.00 and set an outperform rating on the stock in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of Buy and an average price target of $448.96.

Shares of Lululemon Athletica stock opened at $328.98 on Tuesday. Lululemon Athletica has a twelve month low of $269.28 and a twelve month high of $485.83. The company has a 50-day simple moving average of $415.38 and a two-hundred day simple moving average of $408.65. The stock has a market capitalization of $42.54 billion, a price-to-earnings ratio of 49.40, a price-to-earnings-growth ratio of 2.49 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, December 9th. The apparel retailer reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.21. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Lululemon Athletica had a net margin of 14.86% and a return on equity of 34.83%. The business’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 EPS. On average, equities analysts forecast that Lululemon Athletica will post 7.71 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of LULU. Lord Abbett & CO. LLC lifted its position in shares of Lululemon Athletica by 2,475.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 632,032 shares of the apparel retailer’s stock worth $255,784,000 after purchasing an additional 607,494 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Lululemon Athletica by 6.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,628,764 shares of the apparel retailer’s stock worth $3,149,240,000 after purchasing an additional 540,785 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Lululemon Athletica by 73.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,143,678 shares of the apparel retailer’s stock worth $417,408,000 after purchasing an additional 482,605 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Lululemon Athletica in the 2nd quarter worth approximately $127,445,000. Finally, Macquarie Group Ltd. lifted its position in shares of Lululemon Athletica by 398.0% in the 2nd quarter. Macquarie Group Ltd. now owns 427,814 shares of the apparel retailer’s stock worth $156,140,000 after purchasing an additional 341,906 shares during the period. Hedge funds and other institutional investors own 81.56% of the company’s stock.

About Lululemon Athletica

lululemon athletica, Inc engages in the designing, distributing and retail of athletic apparel and accessories. It company operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize in athletic wear for female youth.

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