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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 $30.35, moving -1.91% from the previous trading session. This change lagged the S&P 500's 0.45% loss on the day. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.5%.

Heading into today, shares of the Western apparel and footwear retailer had gained 4.53% over the past month, lagging the Retail-Wholesale sector's gain of 4.73% and outpacing the S&P 500's gain of 2.62% in that time.

BOOT will be looking to display strength as it nears its next earnings release. On that day, BOOT is projected to report earnings of $0.27 per share, which would represent year-over-year growth of 58.82%. Our most recent consensus estimate is calling for quarterly revenue of $188.89 million, up 10.61% from the year-ago period.

Investors should also note any recent changes to analyst estimates for BOOT. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 is currently sporting a Zacks Rank of #2 (Buy).

Investors should also note BOOT's current valuation metrics, including its Forward P/E ratio of 20.47. For comparison, its industry has an average Forward P/E of 13.82, which means BOOT is trading at a premium to the group.

It is also worth noting that BOOT currently has a PEG ratio of 0.99. 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 1.36 based on yesterday's closing prices.

The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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