Boot Barn (NYSE:BOOT) Issues Q4 Earnings Guidance

Boot Barn (NYSE:BOOTGet Rating) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.42-1.51 for the period, compared to the consensus EPS estimate of $1.62. The company issued revenue guidance of $438-448 million, compared to the consensus revenue estimate of $433.07 million. Boot Barn also updated its FY23 guidance to $5.51-5.60 EPS.

Wall Street Analyst Weigh In

A number of research firms have commented on BOOT. UBS Group raised their price target on Boot Barn from $69.00 to $75.00 in a report on Thursday, January 19th. Citigroup decreased their price target on Boot Barn from $99.00 to $93.00 and set a buy rating on the stock in a report on Thursday, October 27th. Robert W. Baird decreased their price target on Boot Barn from $80.00 to $75.00 and set an outperform rating on the stock in a report on Thursday, October 27th. JPMorgan Chase & Co. lifted their target price on Boot Barn from $92.00 to $94.00 in a report on Tuesday, January 3rd. Finally, Craig Hallum dropped their price target on Boot Barn to $100.00 in a research report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $88.89.

Boot Barn Stock Performance

Shares of BOOT traded up $0.97 during mid-day trading on Wednesday, hitting $74.37. 741,952 shares of the company were exchanged, compared to its average volume of 989,278. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.26 and a beta of 2.25. Boot Barn has a 1-year low of $50.20 and a 1-year high of $105.66. The company has a 50 day moving average of $65.30 and a 200-day moving average of $64.19.

Boot Barn (NYSE:BOOTGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.15. The business had revenue of $351.55 million during the quarter, compared to analysts’ expectations of $343.00 million. Boot Barn had a net margin of 11.68% and a return on equity of 29.71%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 EPS. Research analysts anticipate that Boot Barn will post 5.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO James M. Watkins acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was purchased at an average price of $52.34 per share, with a total value of $130,850.00. Following the transaction, the chief financial officer now owns 11,730 shares of the company’s stock, valued at approximately $613,948.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boot Barn

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new position in Boot Barn in the 2nd quarter valued at approximately $105,000. Captrust Financial Advisors boosted its position in Boot Barn by 161.6% in the 1st quarter. Captrust Financial Advisors now owns 1,541 shares of the company’s stock valued at $146,000 after buying an additional 952 shares during the period. Neuberger Berman Group LLC purchased a new position in Boot Barn in the 1st quarter valued at approximately $237,000. Mackenzie Financial Corp boosted its position in Boot Barn by 9.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,611 shares of the company’s stock valued at $247,000 after buying an additional 235 shares during the period. Finally, Guggenheim Capital LLC boosted its position in Boot Barn by 15.7% in the 1st quarter. Guggenheim Capital LLC now owns 2,817 shares of the company’s stock valued at $267,000 after buying an additional 382 shares during the period.

About Boot Barn

(Get Rating)

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.

See Also

Earnings History and Estimates for Boot Barn (NYSE:BOOT)

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