January 10, 2023

Here's Why This Analyst Remains Bullish On Boot Barn

© Provided by Benzinga

Benchmark analyst John Lawrence reiterated a Buy rating on Boot Barn Holdings Inc (NYSE: BOOT) with a price target of $90.00. The company reported a preliminary Q3 FY23 sales increase of 5.9%. The analyst said the sales were slightly ahead of the forecast, while higher freight expense caused EPS to be $1.74, below the $1.81 estimate. The analyst said that sales were solid, going against a tough comparison from last year, and new stores continue to perform well. Sales exceeded management’s plan despite late December storms, cited the analyst. The merchandise margin declined by approximately 190 basis points. Related: Boot Barn Registers 5.9% Preliminary Sales Growth In Q3 Management indicated they could maintain a full-price selling environment during the period, and new stores continued to outperform expectations, the analyst cited. The analyst believes this is an opportune time to review BOOT as comp comparisons get easier from here, and new units are growing at a double-digit growth rate. The analyst specifies this is a positive print as investors were nervous about the tough sales comparison. The analyst remains bullish on the company. Price Action: BOOT shares are trading higher by 7.95% at $66.92 on the last check Monday. Photo Via Company

Latest Ratings for BOOT

View More Analyst Ratings for BOOT

Trending: Obama Says Republicans Are ‘Obsessed’ With 2 Things — One Of Them Is Trump

Must Read: Exact Sciences Breaks Up From This Pattern, Signals Massive Reversal: Is A Bull Cycle In The Cards?

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Continue Reading

premiummarketnews.com is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of premiummarketnews.com are not acting as investment advisors and might not be registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory.

The sender of this email makes no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended in this email, and makes no representations or warranties concerning said company or entity’s compliance with applicable laws and regulations, including, but not limited to, regulations promulgated by the SEC or the CFTC. The sender of this email may receive a portion of the proceeds from the sale of any products or services offered by a company or entity mentioned or recommended in this email. The recipient of this email assumes responsibility for conducting its own due diligence on the aforementioned company or entity and assumes full responsibility, and releases the sender from liability, for any purchase or order made from any company or entity mentioned or recommended in this email.

The content on any of premiummarketnews.com websites, products or communication is for educational purposes only. Nothing in its products, services, or communications shall be construed as a solicitation and/or recommendation to buy or sell a security. Trading stocks, options and other securities involves risk. The risk of loss in trading securities can be substantial. The risk involved with trading stocks, options and other securities is not suitable for all investors. Prior to buying or selling an option, an investor must evaluate his/her own personal financial situation and consider all relevant risk factors. See: Characteristics and Risks of Standardized Options.

The information presented in this site is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. Nothing in our research constitutes legal, accounting or tax advice or individually tailored investment advice. Our research is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive or obtain access to it. Our research is based on sources that we believe to be reliable. However, we do not make any representation or warranty, expressed or implied, as to the accuracy of our research, the completeness, or correctness or make any guarantee or other promise as to any results that may be obtained from using our research. To the maximum extent permitted by law, neither we, any of our affiliates, nor any other person, shall have any liability whatsoever to any person for any loss or expense, whether direct, indirect, consequential, incidental or otherwise, arising from or relating in any way to any use of or reliance on our research or the information contained therein. Some discussions contain forward looking statements which are based on current expectations and differences can be expected. All of our research, including the estimates, opinions and information contained therein, reflects our judgment as of the publication or other dissemination date of the research and is subject to change without notice. Further, we expressly disclaim any responsibility to update such research. Investing involves substantial risk. Past performance is not a guarantee of future results, and a loss of original capital may occur. No one receiving or accessing our research should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing any applicable prospectuses, press releases, reports and other public filings of the issuer of any securities being considered. None of the information presented should be construed as an offer to sell or buy any particular security. As always, use your best judgment when investing.

Disclaimer: Past performance is no guarantee of future performance. This product is for educational purposes only. Practical application of the products herein are at your own risk and premiummarketnews.com, its partners, representatives and employees assume no responsibility or liability for any use or mis-use of the product. Please contact your financial advisor for specific financial advice tailored to your personal circumstances. Any trades shown are hypothetical example and do not represent actual trades. Actual results may differ. Nothing here in constitutes a recommendation respecting the particular security illustrated.