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 denim clothier True Religion (Nasdaq: TRLG) rose more than 14% in early trading on triple the average volume. Strong third-quarter results drove the gains as the stock closed up about 8%.

So what: Revenue rose 17% to $108.4 million in Q3 while adjusted profits inched up to $0.51 a share from $0.48 a year ago. Both figures beat estimates.

Now what: Despite the beat, apparel analysts have yet to upgrade True Religion the way they have Gap (NYSE: GPS) and Aerospostale (NYSE: ARO) recently. Do you see that as fair? Would you buy shares of True Religion at current prices? Please weigh in using the comments box below.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

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