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

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

LULU has been the topic of a number of other reports. Morgan Stanley reduced their target price on shares of Lululemon Athletica from $419.00 to $404.00 and set an in-line rating on the stock in a research report on Friday, December 10th. Wells Fargo & Company upped their target price on shares of Lululemon Athletica from $410.00 to $420.00 and gave the stock an equal weight rating in a research report on Friday, December 10th. Truist Financial initiated coverage on shares of Lululemon Athletica in a research report on Thursday, December 16th. They set a hold rating and a $435.00 target price on the stock. BTIG Research upped their target price on shares of Lululemon Athletica from $473.00 to $490.00 and gave the stock a buy rating in a research report on Friday, December 10th. Finally, Argus increased their price objective on shares of Lululemon Athletica from $500.00 to $530.00 and gave the company a buy rating in a report on Wednesday, December 1st. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Buy and an average price target of $448.96.

Shares of Lululemon Athletica stock opened at $328.98 on Tuesday. The stock has a market capitalization of $42.54 billion, a price-to-earnings ratio of 49.40, a P/E/G ratio of 2.49 and a beta of 1.26. Lululemon Athletica has a 1-year low of $269.28 and a 1-year high of $485.83. The firm’s 50-day moving average price is $415.38 and its two-hundred day moving average price is $408.65.

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 Thomson Reuters’ consensus estimate of $1.41 by $0.21. The firm had revenue of $1.45 billion for 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 company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. As a group, equities analysts expect that Lululemon Athletica will post 7.71 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its position in shares of Lululemon Athletica by 2,475.7% during the third quarter. Lord Abbett & CO. LLC now owns 632,032 shares of the apparel retailer’s stock worth $255,784,000 after acquiring an additional 607,494 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Lululemon Athletica by 6.7% during the second 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 acquiring an additional 540,785 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Lululemon Athletica by 73.0% during the second quarter. Artisan Partners Limited Partnership now owns 1,143,678 shares of the apparel retailer’s stock worth $417,408,000 after acquiring an additional 482,605 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Lululemon Athletica during the second quarter worth $127,445,000. Finally, Macquarie Group Ltd. increased its position in shares of Lululemon Athletica by 398.0% during the second quarter. Macquarie Group Ltd. now owns 427,814 shares of the apparel retailer’s stock worth $156,140,000 after acquiring an additional 341,906 shares in the last quarter. 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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