Citigroup Cuts Lululemon Athletica (NASDAQ:LULU) Price Target to $275.00

Lululemon Athletica (NASDAQ:LULU) had its target price reduced by investment analysts at Citigroup from $330.00 to $275.00 in a research note issued on Monday, MarketBeat.com reports. The firm currently has a “neutral” rating on the apparel retailer’s stock. Citigroup’s price target would suggest a potential upside of 1.38% from the company’s current price.

Other equities analysts have also issued reports about the stock. Piper Sandler reduced their price target on shares of Lululemon Athletica from $315.00 to $280.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group decreased their target price on shares of Lululemon Athletica from $363.00 to $302.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Cfra Research raised Lululemon Athletica from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Telsey Advisory Group decreased their price objective on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Finally, Barclays dropped their target price on Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.38.

Lululemon Athletica Trading Up 1.0 %

Shares of LULU stock opened at $271.27 on Monday. The business’s fifty day simple moving average is $302.03 and its 200-day simple moving average is $338.37. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $423.32. The company has a market cap of $32.73 billion, a PE ratio of 19.59, a PEG ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $5.29 EPS. On average, equities analysts forecast that Lululemon Athletica will post 14.36 earnings per share for the current year.

Hedge Funds Weigh In On Lululemon Athletica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TCTC Holdings LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $26,000. Anderson Financial Strategies LLC acquired a new position in shares of Lululemon Athletica in the fourth quarter worth $30,000. Kestra Investment Management LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter valued at $32,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Lululemon Athletica during the 4th quarter worth about $32,000. Finally, Asset Planning Inc acquired a new position in Lululemon Athletica in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

About Lululemon Athletica

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.