Opinions
Jim Cramer - Mad Money
Boot Barn Holdings
BOOT-N
DON'T BUY
Sep 12, 2022
It was a great growth story. Share have come down, but it's still expensive. Watch it, but don't buy it.
$71.530
Stock price when the opinion was issued
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COMMENT
Pre-pandemic, it was a booming business selling Western boots and work footwear. It has a great 2019, then Covid slammed the stock as worksites were shut down. However, it has since returned to previous highs. Earlier this month, BOOT announced super Q4 results which pushed the stock to new highs.
Consumer Products
BUY
This western boots-seller doesn't get enough credit from money manager who seldom leave Manhattan. They've had a super run from $8 in March 2020 to $120 today. Their October report stated a 62% same-store sales growth, then shares roared, though recently has been dragged down by the rest of the market and losing half of those gains.
Consumer Products
BUY
Has been a fine long-term performer, but like all growth stocks have been hammered recently, plunging from $135 in mid-November to $85 now. Why? It plunged 10% after what he thought was a solid quarter. It wasn't a miss. 54% same-store sales growth. 61% revenue growth and 127% earnings growth. Insane numbers. Sales are up this month, too. It's been unfairly sold. It's a profitable company.
Consumer Products
BUY
They steadily grow their footprint, from 86 stores in 2012 to 382 last year. The company projects 900 by 2030. Same-store sales were down last quarter 9.7%, but because they opened 11 more stores, net sales were up 1%. HE think they've hit the bottom of their comps. Shares have rallied 38% since the last quarter. Trades at only 20x PE.
Consumer Products
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