Jefferies Financial Group Comments on Boot Barn Holdings, Inc.’s Q1 2023 Earnings (NYSE:BOOT)

Boot Barn Holdings, Inc. (NYSE:BOOTGet Rating) – Stock analysts at Jefferies Financial Group raised their Q1 2023 earnings per share (EPS) estimates for Boot Barn in a research note issued on Wednesday, May 11th. Jefferies Financial Group analyst C. Tarlowe now anticipates that the company will earn $1.14 per share for the quarter, up from their previous forecast of $1.09. Jefferies Financial Group also issued estimates for Boot Barn’s Q2 2023 earnings at $1.33 EPS, Q3 2023 earnings at $2.34 EPS, Q4 2023 earnings at $1.61 EPS, FY2023 earnings at $6.41 EPS, Q2 2024 earnings at $1.60 EPS, Q3 2024 earnings at $2.47 EPS and Q4 2024 earnings at $1.71 EPS.

Boot Barn (NYSE:BOOTGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.15. The firm had revenue of $383.31 million for the quarter, compared to the consensus estimate of $354.02 million. Boot Barn had a net margin of 12.93% and a return on equity of 38.18%. The firm’s quarterly revenue was up 48.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS.

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Boot Barn from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. Piper Sandler raised shares of Boot Barn from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $109.00 to $121.00 in a report on Friday, May 6th. StockNews.com assumed coverage on shares of Boot Barn in a report on Thursday, March 31st. They set a “hold” rating for the company. Craig Hallum decreased their price objective on shares of Boot Barn from $162.00 to $145.00 in a report on Wednesday. Finally, Robert W. Baird decreased their price target on shares of Boot Barn from $145.00 to $130.00 in a report on Friday, January 28th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $124.00.

BOOT stock traded up $2.60 during mid-day trading on Friday, hitting $89.56. 836 shares of the company were exchanged, compared to its average volume of 510,465. The company has a market capitalization of $2.66 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.79 and a beta of 2.78. Boot Barn has a twelve month low of $69.44 and a twelve month high of $134.50. The firm has a fifty day simple moving average of $93.73 and a 200 day simple moving average of $102.99.

In related news, insider John Hazen sold 2,420 shares of Boot Barn stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $99.73, for a total value of $241,346.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James M. Watkins acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The stock was purchased at an average price of $77.00 per share, for a total transaction of $192,500.00. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Man Group plc raised its position in shares of Boot Barn by 570.3% during the 3rd quarter. Man Group plc now owns 16,503 shares of the company’s stock worth $1,467,000 after buying an additional 14,041 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of Boot Barn by 1.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 11,804 shares of the company’s stock worth $1,452,000 after buying an additional 184 shares in the last quarter. Congress Wealth Management LLC DE bought a new stake in shares of Boot Barn during the 4th quarter worth about $8,428,000. Rockefeller Capital Management L.P. raised its position in shares of Boot Barn by 924.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 379 shares of the company’s stock worth $33,000 after buying an additional 342 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Boot Barn by 311.4% during the 4th quarter. Qube Research & Technologies Ltd now owns 43,270 shares of the company’s stock worth $5,324,000 after buying an additional 32,752 shares in the last quarter.

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.

Read More

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

Receive News & Ratings for Boot Barn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boot Barn and related companies with MarketBeat.com's FREE daily email newsletter.