Boot Barn (BOOT) closed at $122.36 in the latest trading session, marking a -0.56% move from the prior day. This change lagged the S&P 500’s 0.64% gain on the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.
Coming into today, shares of the Western apparel and footwear retailer had gained 2.48% in the past month. In that same time, the Retail-Wholesale sector lost 0.1%, while the S&P 500 gained 4.56%.
Boot Barn will be looking to display strength as it nears its next earnings release. In that report, analysts expect Boot Barn to post earnings of $1 per share. This would mark no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $461.45 million, up 52.62% from the year-ago period.
BOOT’s full-year Zacks Consensus Estimates are calling for earnings of $5.53 per share and revenue of $1.38 billion. These results would represent year-over-year changes of +188.02% and +54.58%, respectively.
It is also important to note the recent changes to analyst estimates for Boot Barn. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Boot Barn is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Boot Barn has a Forward P/E ratio of 22.26 right now. Its industry sports an average Forward P/E of 12.75, so we one might conclude that Boot Barn is trading at a premium comparatively.
We can also see that BOOT currently has a PEG ratio of 1.11. 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 Retail – Apparel and Shoes was holding an average PEG ratio of 1.02 at yesterday’s closing price.
The Retail – Apparel and Shoes industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Boot Barn Holdings, Inc. (BOOT): Free Stock Analysis Report
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