Lululemon Athletica (NASDAQ:LULU) Price Target Cut to $345.00

Lululemon Athletica (NASDAQ:LULUGet Rating) had its price objective decreased by Citigroup from $400.00 to $345.00 in a report issued on Friday, The Fly reports. Citigroup’s price objective indicates a potential upside of 14.02% from the stock’s current price.

LULU has been the topic of a number of other reports. StockNews.com assumed coverage on Lululemon Athletica in a report on Thursday, March 31st. They set a “hold” rating on the stock. Robert W. Baird increased their target price on Lululemon Athletica from $425.00 to $450.00 in a report on Wednesday, March 30th. MKM Partners increased their target price on Lululemon Athletica from $438.00 to $447.00 in a report on Wednesday, March 30th. Credit Suisse Group lowered their target price on Lululemon Athletica from $450.00 to $410.00 in a report on Friday. Finally, Morgan Stanley raised Lululemon Athletica from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $339.00 to $303.00 in a report on Thursday, May 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $428.15.

Shares of NASDAQ:LULU opened at $302.58 on Friday. The company has a market cap of $38.70 billion, a P/E ratio of 40.34, a PEG ratio of 1.55 and a beta of 1.30. Lululemon Athletica has a 1 year low of $251.51 and a 1 year high of $485.83. The stock’s fifty day moving average price is $336.93 and its 200-day moving average price is $352.95.

Lululemon Athletica (NASDAQ:LULUGet Rating) last announced its quarterly earnings results on Thursday, June 2nd. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.55 billion. Lululemon Athletica had a return on equity of 37.92% and a net margin of 15.59%. The company’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. On average, sell-side analysts expect that Lululemon Athletica will post 9.34 EPS for the current year.

Lululemon Athletica announced that its board has initiated a stock repurchase program on Tuesday, March 29th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Large investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. grew its position in shares of Lululemon Athletica by 192.0% during the fourth quarter. Benjamin Edwards Inc. now owns 73 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 48 shares in the last quarter. First Community Trust NA purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth about $29,000. Cornerstone Advisory LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth about $30,000. Lloyd Advisory Services LLC. purchased a new position in Lululemon Athletica during the 1st quarter valued at approximately $29,000. Finally, DeDora Capital Inc. purchased a new position in Lululemon Athletica during the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 85.48% of the company’s stock.

About Lululemon Athletica (Get Rating)

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories 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 and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.

Featured Articles

The Fly logo

Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

Want More Great Investing Ideas?

Receive News & Ratings for Lululemon Athletica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica and related companies with MarketBeat.com's FREE daily email newsletter.