Stocks to Buy Before They Join This Market Rally: Boot Barn (BOOT)
YTD Performance: -23%
Boot Barn Holdings Inc (NASDAQ:BOOT),another retailer hammered by the changing sentiment toward the space, simply looks too cheap right now.
Boot Barn has a solid niche in Western wear and boots. For investors worried about the threat of e-commerce toward the brick-and-mortar model, Boot Barn already has a solid — and fast-growing — online business.
BOOT shares have declined almost without interruption since late November, losing more than 40% in the process. But there has been little in the results to support that type of fall. Boot Barn still is growing both sales and profits, and the key Texas market is recovering from oil bust headwinds. Boot Barn has room for new store openings, the aforementioned online business, and room to take share in a fragmented boot and Western wear market.
Right now, BOOT stock is being tossed out with the rest of the retail industry. But that should change as Wall Street starts hunting down any stocks to buy that aren’t already wildly overbought.