Lululemon (LULU) closed the most recent trading day at $178.67, moving +0.47% from the previous trading session. This move lagged the S&P 500's daily gain of 1.21%. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 1.35%.Heading into today, shares of the athletic apparel maker had lost 6.1% over the past month, outpacing the Consumer Discretionary sector's loss of 8.53% and lagging the S&P 500's loss of 3.6% in that time.Wall Street will be looking for positivity from LULU as it approaches its next earnings report date. On that day, LULU is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 23.94%. Our most recent consensus estimate is calling for quarterly revenue of $840.55 million, up 16.18% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $4.70 per share and revenue of $3.79 billion, which would represent changes of +22.4% and +15.37%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for LULU. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. LULU is holding a Zacks Rank of #3 (Hold) right now.Digging into valuation, LULU currently has a Forward P/E ratio of 37.87. For comparison, its industry has an average Forward P/E of 14.02, which means LULU is trading at a premium to the group.Investors should also note that LULU has a PEG ratio of 2.06 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Textile - Apparel stocks are, on average, holding a PEG ratio of 1.28 based on yesterday's closing prices.The Textile - Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report lululemon athletica inc. (LULU): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research