Boot Barn (NYSE:BOOT) Releases Q1 Earnings Guidance

Boot Barn (NYSE:BOOTGet Rating) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.14 for the period, compared to the consensus EPS estimate of $1.12. The company issued revenue guidance of $367 million, compared to the consensus revenue estimate of $325.88 million.Boot Barn also updated its FY 2023 guidance to $6.41-$6.41 EPS.

Several research analysts have weighed in on BOOT shares. Piper Sandler raised shares of Boot Barn from a neutral rating to an overweight rating and increased their target price for the stock from $109.00 to $121.00 in a research note on Friday, May 6th. Craig Hallum dropped their price target on shares of Boot Barn from $162.00 to $145.00 in a research report on Wednesday. Robert W. Baird decreased their price target on shares of Boot Barn from $145.00 to $130.00 in a research report on Friday, January 28th. Seaport Res Ptn reissued a neutral rating on shares of Boot Barn in a research note on Tuesday, January 18th. Finally, began coverage on Boot Barn in a research report on Thursday, March 31st. They set a hold rating for the company. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $124.00.

Boot Barn stock opened at $90.00 on Wednesday. Boot Barn has a 52-week low of $66.58 and a 52-week high of $134.50. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.87 and a beta of 2.78. The company has a fifty day simple moving average of $93.76 and a 200-day simple moving average of $103.12.

Boot Barn (NYSE:BOOTGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.17. Boot Barn had a net margin of 12.63% and a return on equity of 35.40%. The firm had revenue of $383.31 million during the quarter, compared to analysts’ expectations of $354.02 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. The business’s quarterly revenue was up 48.1% compared to the same quarter last year. As a group, equities analysts expect that Boot Barn will post 6.06 EPS for the current fiscal year.

In related news, insider John Hazen sold 11,254 shares of the firm’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $100.44, for a total transaction of $1,130,351.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James M. Watkins purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, February 24th. The stock was acquired at an average cost of $77.00 per share, with a total value of $192,500.00. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Boot Barn by 5.4% during the fourth quarter. BlackRock Inc. now owns 4,655,016 shares of the company’s stock valued at $572,802,000 after acquiring an additional 238,170 shares in the last quarter. Barclays PLC lifted its position in Boot Barn by 80.9% in the fourth quarter. Barclays PLC now owns 137,179 shares of the company’s stock worth $16,880,000 after purchasing an additional 61,342 shares during the period. Morgan Stanley increased its stake in Boot Barn by 25.7% in the second quarter. Morgan Stanley now owns 219,259 shares of the company’s stock valued at $18,428,000 after acquiring an additional 44,800 shares during the period. NewEdge Advisors LLC lifted its position in shares of Boot Barn by 24.8% during the 4th quarter. NewEdge Advisors LLC now owns 26,479 shares of the company’s stock worth $3,258,000 after buying an additional 5,262 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Boot Barn in the fourth quarter valued at $554,000.

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.

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

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