Lululemon (LULU) closed at $378.50 in the latest trading session, marking a +0.58% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.36%. Elsewhere, the Dow lost 0.21%, while the tech-heavy Nasdaq added 0.76%.Prior to today's trading, shares of the athletic apparel maker had gained 13.5% over the past month. This has outpaced the Consumer Discretionary sector's gain of 7.07% and the S&P 500's gain of 6.9% in that time.LULU will be looking to display strength as it nears its next earnings release. In that report, analysts expect LULU to post earnings of $0.50 per share. This would mark a year-over-year decline of 47.92%. Our most recent consensus estimate is calling for quarterly revenue of $832.92 million, down 5.71% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $4.39 per share and revenue of $4.05 billion, which would represent changes of -10.95% and +1.77%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for LULU. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 has moved 0.49% higher. LULU is currently a Zacks Rank #3 (Hold).Valuation is also important, so investors should note that LULU has a Forward P/E ratio of 85.78 right now. For comparison, its industry has an average Forward P/E of 35.7, which means LULU is trading at a premium to the group.Meanwhile, LULU's PEG ratio is currently 4.68. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Textile - Apparel industry currently had an average PEG ratio of 4.91 as of yesterday's close.The Textile - Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 18% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.To follow LULU in the coming trading sessions, be sure to utilize Zacks.com.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.