Lululemon Athletica Inc. has been re-rated on Wall Street.

Blame a slow-to-come turnaround in the U.S., worries over China or a much bigger than expected hit from the de minimis switch , but the company is just not on the industry-leading high it once was — it’s in good company, yes, but Lululemon ’s stock is now running with the pack.

Shares of the firm hit a five-year low on Monday, but closed up 0.2 percent to $168.10, leaving it with a market capitalization of $19.9 billion. By sheer size, that left Lululemon between Coach-parent Tapestry Inc. (with a market cap of $21.8 billion) and Ralph Lauren Inc. ($18.7 billion).

Ten years ago, those three companies were each worth less than $10 billion to Wall Street. But then Lululemon hit a profitable, double-digit growth spurt unde

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