7 Small-Cap Stocks That Could Rocket Higher in 2023 - 1 of 7

#1 - Boot Barn (NYSE:BOOT)

If you’re of the belief that retail will snap back, then Boot Barn (NYSE:BOOT) may hold some appeal.  The lifestyle retailer sells western and work-related footwear (i.e., boots), apparel, and accessories. The company has a network of stores as well as an e-commerce business.

BOOT stock was a favorite as a reopening play. The stock soared 185% in 2021. But that seems like ancient history to current investors. The stock is trading for $58.51 a share as of this writing. That’s down over 50% from where it closed in 2021 and more than twice the drop of the S&P 500 Index.

Nevertheless, Boot Barn makes this list because it is maintaining its forecast for double-digit revenue growth of approximately 13% in FY2023. And the company forecasts earnings per share (EPS) in a range of $6.00 to $6.20 as compared to the $6.18 it posted for the last fiscal year.

And with a price-to-earnings (P/E) ratio of just over 9x earnings, BOOT stock no longer looks like it’s overvalued. Analysts surveyed by MarketBeat assign the stock a Moderate Buy rating with a consensus price target of $112.90.

About Boot Barn

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing. Read More 

Current Price

$98.60

Consensus Rating

Moderate Buy

Ratings Breakdown

8 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.

Consensus Price Target

$105.56 (7.1% Upside)