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8 Footwear Stocks With Upside

4. LaCrosse Footwear (BOOT), a developer and marketer of footwear for work and outdoor use, operates under the brands Danner and LaCrosse. The company distributes its products through a network of retailers and distributors, and internationally through its Danish subsidiary LaCrosse Europe ApS, and through distributors and retailers in Asia, Europe and Canada.

Of the four analysts covering the stock, two recommend a buy and one suggests a hold. The stock's average 12-month price target is $18.00, which is 40.5% higher than the current price, as per a Bloomberg consensus.

For the second quarter of 2011, BOOT reported net sales of $27.1 million, vs. $26.6 million in the same quarter prior year. For the first half of 2011 and the second quarter, the company's combined sales to its wholesale, direct and international channels increased 13%, vs. the same period last year. Also, the company's board approved and paid a quarterly dividend of 12.5 cents per share of common stock.

Looking ahead, the company believes that its enhanced e-commerce platforms will continue to expand its direct business and with the support of a talented development team it plans to launch a range of innovative products for spring 2012.

BOOT recently received a $15.4 million delivery order for the United States Marine Corps for Danner's USMC Rugged All-Terrain (RAT) hot-weather boot. The company expects to fulfill this order of RAT boots through multiple deliveries over the next several quarters.

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