Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of suit specialist Men's Warehouse (NYSE: MW) climbed by a handsome 17% on Thursday after raising its current-quarter guidance.  

So what: Management, which plans to report first-quarter results on June 8, upped its profit range roughly 60% to $0.47-$0.50 per share, easily topping the average analyst estimate of only $0.29 per share. Promotions and lower prices have been driving better-than-expected customer traffic, and with the shares touching new 52-week highs, investors are trying hard to keep up.  

Now what: I'd be cautious about riding this recent wave of momentum. Although the company's near-term outlook looks enticing, its historically low margins and returns on equity don't make it the most attractive long-term opportunity. And with the stock now trading at a PEG ratio of almost 2, Men's Warehouse isn't exactly a deep-value turnaround play, either.

Interested in more info on Men's Warehouse? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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