Lululemon Price Target Cut to $85.00 by Analysts at Canaccord Genuity (LULU)
Equities researchers at Canaccord Genuity decreased their price objective on shares of Lululemon (NASDAQ:LULU) from $87.00 to $85.00 in a research report issued on Friday, AnalystRatings.Net reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective would suggest a potential upside of 30.19% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital cut their price target on shares of Lululemon (NASDAQ:LULU) from $85.00 to $80.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Separately, analysts at DA Davidson reiterated a “neutral” rating on shares of Lululemon (NASDAQ:LULU) in a research note to investors on Friday. They now have a $73.00 price target on the stock, down previously from $76.00. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Lululemon (NASDAQ:LULU) in a research note to investors on Friday. They now have a $80.00 price target on the stock, down previously from $85.00.
Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Lululemon presently has an average rating of “Hold” and an average target price of $74.47.
Shares of Lululemon (NASDAQ:LULU) traded up 4.72% during mid-day trading on Friday, hitting $68.37. 5,606,535 shares of the company’s stock traded hands. Lululemon has a 52-week low of $59.60 and a 52-week high of $82.50. The stock has a 50-day moving average of $70.77 and a 200-day moving average of $70.24. The company has a market cap of $9.883 billion and a price-to-earnings ratio of 35.29. Lululemon also was the recipient of unusually large options trading on Tuesday. Stock traders bought 21,088 call options on the stock. This is an increase of 179% compared to the average daily volume of 7,545 call options.
Lululemon (NASDAQ:LULU) last released its earnings data on Thursday, September 12th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $344.50 million for the quarter, compared to the consensus estimate of $342.70 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, analysts predict that Lululemon will post $1.98 earnings per share for the current fiscal year.
Manufactures, distributes and sells technical athletics and yoga apparel. The Company works in cooperation with various athletes to create designs specific to meet their needs.
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