Lululemon Athletica Inc. (NASDAQ:LULU) was down 2.4% on Friday . The stock traded as low as $78.47 and last traded at $78.69, with a volume of 1,435,979 shares. The stock had previously closed at $80.59.

Several equities research analysts have recently weighed in on LULU shares. FBR & Co reiterated an “underperform” rating and set a $40.00 target price on shares of Lululemon Athletica in a research note on Friday, May 6th. Citigroup Inc. increased their target price on shares of Lululemon Athletica from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Credit Suisse Group AG reiterated a “buy” rating and set a $83.00 target price on shares of Lululemon Athletica in a research note on Tuesday, June 21st. Macquarie reiterated an “underperform” rating and set a $39.00 target price on shares of Lululemon Athletica in a research note on Saturday, June 11th. Finally, Sterne Agee CRT reiterated a “buy” rating and set a $75.00 target price on shares of Lululemon Athletica in a research note on Friday, June 3rd. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $71.85.

The firm has a 50 day moving average of $78.06 and a 200-day moving average of $68.22. The company has a market capitalization of $10.71 billion and a P/E ratio of 41.48.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, June 8th. The apparel retailer reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business had revenue of $495.50 million for the quarter, compared to the consensus estimate of $487.68 million. During the same period last year, the company earned $0.34 earnings per share. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. On average, analysts forecast that Lululemon Athletica Inc. will post $2.15 earnings per share for the current fiscal year.

Other hedge funds have bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in Lululemon Athletica by 21.3% in the fourth quarter. Advisors Asset Management Inc. now owns 22,604 shares of the apparel retailer’s stock valued at $1,186,000 after buying an additional 3,968 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Lululemon Athletica by 20.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 58,000 shares of the apparel retailer’s stock valued at $3,043,000 after buying an additional 10,000 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Lululemon Athletica by 116.9% in the fourth quarter. Bank of Montreal Can now owns 27,009 shares of the apparel retailer’s stock valued at $1,417,000 after buying an additional 14,557 shares in the last quarter.

Lululemon Athletica Inc is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth.

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