Strength Seen in lululemon (LULU): Stock Soars 7.8%
lululemon athletica inc. LULU was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $174.68 to $188.41 in the past one-month time frame.
The move came after the company reported better-than-expected second-quarter fiscal 2019 (ended Aug 04, 2019) results.
The company has seen three positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for lululemon. So, make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
lululemon currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.
lululemon athletica inc. Price
Investors interested in the Textile - Apparel industry may consider Delta Apparel, Inc. DLA, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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