Lululemon Athletica (LULU) Downgraded to “Neutral” at Citigroup

Citigroup downgraded shares of Lululemon Athletica (NASDAQ:LULU) from a buy rating to a neutral rating in a research report released on Tuesday morning. They currently have $88.00 price objective on the apparel retailer’s stock.

A number of other analysts have also recently commented on the company. BidaskClub raised Lululemon Athletica from a buy rating to a strong-buy rating in a research report on Wednesday, December 27th. Robert W. Baird set a $85.00 price target on Lululemon Athletica and gave the stock a buy rating in a research report on Friday, December 22nd. BMO Capital Markets set a $75.00 price target on Lululemon Athletica and gave the stock a hold rating in a research report on Tuesday, December 19th. MKM Partners boosted their price target on Lululemon Athletica to $89.00 and gave the stock a buy rating in a research report on Friday, December 15th. Finally, Susquehanna Bancshares reissued a buy rating and issued a $85.00 price target on shares of Lululemon Athletica in a research report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $72.28.

Lululemon Athletica (NASDAQ LULU) traded up $1.10 during trading on Tuesday, reaching $79.69. The company’s stock had a trading volume of 2,474,700 shares, compared to its average volume of 1,889,900. The company has a market cap of $10,640.00, a PE ratio of 39.65, a price-to-earnings-growth ratio of 2.48 and a beta of 0.19. Lululemon Athletica has a fifty-two week low of $47.26 and a fifty-two week high of $80.27.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.04. Lululemon Athletica had a return on equity of 22.52% and a net margin of 10.96%. The business had revenue of $619.00 million for the quarter, compared to analysts’ expectations of $610.56 million. During the same period in the previous year, the firm posted $0.50 EPS. The business’s revenue was up 13.7% on a year-over-year basis. research analysts forecast that Lululemon Athletica will post 2.48 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has initiated a share buyback program on Wednesday, December 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

A number of hedge funds have recently modified their holdings of LULU. Janus Henderson Group PLC increased its stake in Lululemon Athletica by 16,053.2% in the 2nd quarter. Janus Henderson Group PLC now owns 2,614,550 shares of the apparel retailer’s stock worth $156,010,000 after buying an additional 2,598,364 shares in the last quarter. Eaton Vance Management bought a new position in shares of Lululemon Athletica during the 2nd quarter valued at about $126,967,000. Lazard Asset Management LLC bought a new position in shares of Lululemon Athletica during the 2nd quarter valued at about $94,181,000. HS Management Partners LLC boosted its holdings in shares of Lululemon Athletica by 36.4% during the 2nd quarter. HS Management Partners LLC now owns 2,775,486 shares of the apparel retailer’s stock valued at $165,613,000 after purchasing an additional 741,200 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Lululemon Athletica by 145.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,153,948 shares of the apparel retailer’s stock valued at $68,856,000 after purchasing an additional 684,667 shares during the last quarter. Institutional investors and hedge funds own 79.31% of the company’s stock.

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Lululemon Athletica Company Profile

lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.

Analyst Recommendations for Lululemon Athletica (NASDAQ:LULU)

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