Citigroup Issues Pessimistic Forecast for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its target price reduced by Citigroup from $325.00 to $270.00 in a research report report published on Friday morning, MarketBeat reports. They currently have a neutral rating on the apparel retailer’s stock.

LULU has been the topic of a number of other reports. KeyCorp reduced their price target on shares of Lululemon Athletica from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday. Bank of America reduced their price target on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. JPMorgan Chase & Co. reduced their price target on shares of Lululemon Athletica from $389.00 to $303.00 and set an “overweight” rating on the stock in a research note on Friday. Telsey Advisory Group restated an “outperform” rating and set a $385.00 price target on shares of Lululemon Athletica in a report on Monday, June 2nd. Finally, Barclays reduced their price target on Lululemon Athletica from $309.00 to $276.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $344.96.

Lululemon Athletica Trading Down 19.8%

LULU stock opened at $265.27 on Friday. The firm has a 50-day moving average price of $285.93 and a 200-day moving average price of $337.88. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The stock has a market capitalization of $32.00 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.60. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company posted $2.54 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts predict that Lululemon Athletica will post 14.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC acquired a new position in Lululemon Athletica in the first quarter valued at approximately $25,000. TCTC Holdings LLC acquired a new position in Lululemon Athletica in the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC lifted its stake in Lululemon Athletica by 506.3% in the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer’s stock valued at $26,000 after buying an additional 81 shares during the period. Flaharty Asset Management LLC acquired a new position in Lululemon Athletica in the first quarter valued at approximately $29,000. Finally, Anderson Financial Strategies LLC acquired a new position in Lululemon Athletica in the fourth quarter valued at approximately $30,000. 85.20% of the stock is owned by institutional investors and hedge funds.

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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.