NEW YORK (TheStreet) -- Lululemon Athletica (LULU) - Get Report stock is up 9.11%% to $66.82 in mid-morning trading on Wednesday after the company reported better-than-expected 2015 fourth quarter results. 

Before the market open today the Vancouver-based athletic apparel company reported earnings of 85 cents per share, higher than Wall Street's forecasts of 80 cents per share. Revenue climbed by 17% year-over-year to $704.3 million, beating analysts' estimates of $693.38 million for the recent period.

Lululemon reported a surprisingly strong quarter, according to TheStreet's Jim Cramer, Portfolio Manager ofAction Alerts PLUS. Comparable store sales climbed by 5% during the quarter and direct-to-consumer revenue increased by 28% year-over-year.

"Looks like very, very strong cost controls coupled with strong same-store sales, especially via online," Cramer said. "I am surprised how strong this quarter is."

Lululemon projected 2016 earnings to range between $2.05 per share to $2.15 per share, in-line with analysts' forecasts for $2.15 per share. 

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rates this stock as a "hold" with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself.

You can view the full analysis from the report here: LULU

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