In the latest trading session, Lululemon (LULU) closed at $457.86, marking a -0.2% move from the previous day. This move lagged the S&P 500's daily gain of 0.23%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq gained 0.09%.Coming into today, shares of the athletic apparel maker had gained 6.02% in the past month. In that same time, the Consumer Discretionary sector lost 3.02%, while the S&P 500 gained 3.34%.Investors will be hoping for strength from Lululemon as it approaches its next earnings release. In that report, analysts expect Lululemon to post earnings of $1.39 per share. This would mark year-over-year growth of 19.83%. Meanwhile, our latest consensus estimate is calling for revenue of $1.43 billion, up 28.05% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.51 per share and revenue of $6.26 billion. These totals would mark changes of +59.79% and +42.19%, respectively, from last year.Any recent changes to analyst estimates for Lululemon should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.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 has moved 0.14% higher. Lululemon is currently sporting a Zacks Rank of #2 (Buy).Looking at its valuation, Lululemon is holding a Forward P/E ratio of 61.08. This represents a premium compared to its industry's average Forward P/E of 16.98.Investors should also note that LULU has a PEG ratio of 3.05 right now. 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 1.1 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 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.To follow LULU in the coming trading sessions, be sure to utilize Zacks.com. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100S of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>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