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Boot Barn (BOOT) Dips More Than Broader Markets: What You Should Know

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Boot Barn (BOOT - Free Report) closed the most recent trading day at $97.65, moving -1.94% from the previous trading session. This move lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 0.39%.

Coming into today, shares of the Western apparel and footwear retailer had lost 2.73% in the past month. In that same time, the Retail-Wholesale sector lost 1.67%, while the S&P 500 gained 0.17%.

Wall Street will be looking for positivity from Boot Barn as it approaches its next earnings report date. The company is expected to report EPS of $1.30, up 73.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $345.18 million, up 33.34% from the year-ago period.

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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.96% lower. Boot Barn currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Boot Barn has a Forward P/E ratio of 18.34 right now. This represents a premium compared to its industry's average Forward P/E of 9.68.

Investors should also note that BOOT has a PEG ratio of 0.92 right now. 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. Retail - Apparel and Shoes stocks are, on average, holding a PEG ratio of 0.92 based on yesterday's closing prices.

The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow BOOT in the coming trading sessions, be sure to utilize Zacks.com.


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