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Equities researchers at Nomura cut their price objective on shares of Lululemon Athletica inc. (NASDAQ:LULU) from $55.00 to $48.00 in a research report issued on Friday. The firm currently has a “buy” rating on the stock. Nomura’s price target indicates a potential upside of 28.86% from the company’s current price.

Shares of Lululemon Athletica inc. (NASDAQ:LULU) traded down 0.89% during mid-day trading on Friday, hitting $36.92. The stock had a trading volume of 7,999,936 shares. Lululemon Athletica inc. has a 52 week low of $37.00 and a 52 week high of $77.75. The stock’s 50-day moving average is $44.53 and its 200-day moving average is $51.42. The company has a market cap of $5.366 billion and a P/E ratio of 19.50. Lululemon Athletica inc. also saw unusually large options trading activity on Wednesday. Investors acquired 37,791 put options on the stock. This is an increase of approximately 408% compared to the average daily volume of 7,441 put options.

Lululemon Athletica inc. (NASDAQ:LULU) last announced its earnings results on Thursday, June 12th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.19. The company had revenue of $384.60 million for the quarter, compared to the consensus estimate of $381.21 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, analysts predict that Lululemon Athletica inc. will post $1.90 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at KeyCorp cut their price target on shares of Lululemon Athletica inc. from $73.00 to $55.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity downgraded shares of Lululemon Athletica inc. from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $42.00 price target on the stock, down previously from $69.00. Finally, analysts at Citigroup Inc. downgraded shares of Lululemon Athletica inc. from a “buy” rating to a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $49.16.

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

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