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Lululemon (NASDAQ:LULU) was upgraded by research analysts at RBC Capital from a “sector perform” rating to an “outperform” rating in a report released on Friday, TheFlyOnTheWall.com reports. The firm currently has a $56.00 target price on the stock. RBC Capital’s price target suggests a potential upside of 18.19% from the company’s current price. The analysts noted that the move was a valuation call.

Lululemon (NASDAQ:LULU) opened at 47.38 on Friday. Lululemon has a 52 week low of $44.32 and a 52 week high of $82.50. The stock’s 50-day moving average is $51.98 and its 200-day moving average is $65.99. The company has a market cap of $6.880 billion and a price-to-earnings ratio of 23.92. Lululemon also was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 20,203,246 shares, a decrease of 5.0% from the December 31st total of 21,217,632 shares. Based on an average daily volume of 5,588,756 shares, the days-to-cover ratio is presently 3.6 days. Currently, 19.3% of the shares of the stock are sold short.

Lululemon (NASDAQ:LULU) last released its earnings data on Thursday, December 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $379.90 million for the quarter, compared to the consensus estimate of $376.20 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 20.0% on a year-over-year basis. On average, analysts predict that Lululemon will post $1.89 earnings per share for the current fiscal year.

A number of other firms have also recently commented on LULU. Analysts at TheStreet downgraded shares of Lululemon from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. Separately, analysts at Jefferies Group cut their price target on shares of Lululemon from $50.00 to $45.00 in a research note to investors on Friday, January 31st. They now have a “hold” rating on the stock. Finally, analysts at Janney Montgomery Scott downgraded shares of Lululemon from a “buy” rating to a “neutral” rating in a research note to investors on Monday, January 27th. They now have a $49.00 price target on the stock, down previously from $61.00. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $64.60.

lululemon athletica inc. is a designer and retailer of technical athletic apparel operating primarily in North America and Australia.

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