Investors are always looking for stocks ready to beat the earnings season and Boot Barn Holdings, Inc. BOOT can be one of these companies. The company has profits coming up very soon, and things are looking pretty good for their report.
This is because Boot Barn has seen favorable earnings estimate review activity lately, which is usually a precursor to higher earnings. After all, analysts raising estimates just ahead of earnings – with the most up-to-date information possible – are a pretty good indicator of some beneath the surface favorable trends for BOOT in this report.
In fact, the most accurate estimate for the current quarter is currently $ 1.00 for BOOT, compared to Zacks’ broader consensus estimate of 97 cents per share. This suggests that analysts very recently upped their estimates for BOOT, giving the stock an ESP on Zacks earnings of + 2.74% as the earnings season approaches.
Boot Barn Holdings, Inc. Price and BPA Surprise
Boot Barn Holdings, Inc. price-eps-surprise | Quote from Boot Barn Holdings, Inc.
Why is this important?
A positive reading of Zacks Earnings ESP has proven to be very powerful in producing both positive surprises and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive ESP on earnings and a Zacks Rank # 3 (Hold) or better show a positive surprise almost 70% of the time, and have generated more than 28% on average of annual returns (see Continuation The Most Profitable ESP Stocks Here).
Since BOOT has a Zacks Rank # 1 (strong buy) and ESP in positive territory, investors might want to consider this stock before earnings. You can see The full list of today’s Zacks # 1 Rank stocks here.
Clearly, recent revisions to earnings estimates suggest that good things are ahead for Boot Barn and that a beat may be in the cards for the next report.
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Boot Barn Holdings, Inc. (BOOT): Free Stock Analysis Report
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