Dallas Salazar • Sat, Dec. 13
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- BOOT grew its revenue 19% Y/Y while holding its SG&A flat on an actual dollar basis and driving it down 400 basis points as a percentage of revenue.
- BOOT has shown during F1H/15 that it's turned a serious corner on profitability and that it could be on the front-end of a massive margin expansion.
- BOOT has been able to do all of the above without having in-house distribution or a relevant DTC channel.
- Buy BOOT.
- Boot Barn had an excellent first earnings report as a publicly traded company.
- Revenue and earnings growth easily outpaced the industry.
- However, the valuation is steep at the moment, and forward numbers are a bit murky.
- On November 24th, the quiet period ended for the underwriters of BOOT; on November 25th, these underwriters issued positive research reports on the firm.
- In response to the release of these reports from underwriters, it is likely that BOOT's share price will experience a short-term rise; our studies show this as ~5%.
- BOOT benefits from industry-wide growth patterns; improving same-store sales growth; and strong early trading sessions.
- We suggest the quiet period expiration as a chance for investors to buy into a burgeoning firm.
Boot Barn: A Recent IPO With Potential For 35% Upside
- Boot Barn is a Western and workwear retailer that IPO'd last month (October 2014).
- Neither the company's historical growth nor its future growth story are reflected in its current price.
- A conservative valuation analysis yields an upside of 35%, with a $27 price target.
- Boot Barn presents a fantastic risk-reward profile for any investor.
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BOOT vs. ETF Alternatives
Boot Barn Holdings Inc operates specialty retail stores that sell western and work boots and related apparel and accessories. It operates retail locations throughout the U.S. and sells its merchandise via the Internet.
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