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One of the toughest industries to make money in recently has been retail. As brick and mortar retailers struggle to compete with online shopping websites, many of these names have struggled to deliver profits. Over the last few months, there have been some names in the retail space which have outperformed the market, bucking the trend. Today’s Bull of the Day is in the retail industry which surprisingly now ranks in the Top 16% of our Zacks Industry Rank.
Today’s pick is Boot Barn Holdings (BOOT - Free Report) . Boot Barn Holdings, Inc., a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing. The company also provides gifts and home merchandise. As of August 7, 2018, it operated 232 stores in 31 states.
Boot Barn is a Zacks Rank #1 (Strong Buy) right now because of a series of earnings estimate revisions coming from analysts. Over the last sixty days, five analysts have increased their earnings estimates for the current year while four analysts have increased their estimates for next year. The bullish sentiment has pushed up our Zacks Consensus Estimate from $1.02 to $1.15 for the current year. Next year’s number has come up from $1.29 to $1.35.
The stock has been on a pretty good run since June 2017 when the stock was trading down in the $6s. Since then the stock is up nearly 5x. The most recent breakout was a result of earnings. The gap up following the report pushed it up over $26. Over the last couple of weeks, the stock rallied up all the way up to $31.62 before running out of gas. Two days of selling has the stock down under $30 looking for support.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Bull of the Day: Boot Barn (BOOT)
One of the toughest industries to make money in recently has been retail. As brick and mortar retailers struggle to compete with online shopping websites, many of these names have struggled to deliver profits. Over the last few months, there have been some names in the retail space which have outperformed the market, bucking the trend. Today’s Bull of the Day is in the retail industry which surprisingly now ranks in the Top 16% of our Zacks Industry Rank.
Today’s pick is Boot Barn Holdings (BOOT - Free Report) . Boot Barn Holdings, Inc., a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing. The company also provides gifts and home merchandise. As of August 7, 2018, it operated 232 stores in 31 states.
Boot Barn is a Zacks Rank #1 (Strong Buy) right now because of a series of earnings estimate revisions coming from analysts. Over the last sixty days, five analysts have increased their earnings estimates for the current year while four analysts have increased their estimates for next year. The bullish sentiment has pushed up our Zacks Consensus Estimate from $1.02 to $1.15 for the current year. Next year’s number has come up from $1.29 to $1.35.
The stock has been on a pretty good run since June 2017 when the stock was trading down in the $6s. Since then the stock is up nearly 5x. The most recent breakout was a result of earnings. The gap up following the report pushed it up over $26. Over the last couple of weeks, the stock rallied up all the way up to $31.62 before running out of gas. Two days of selling has the stock down under $30 looking for support.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>