Boot Barn (NYSE:BOOT) Issues Q1 2023 Earnings Guidance

Boot Barn (NYSE:BOOT – Get Rating) issued an update on its first quarter 2023 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.14-$1.14 for the period, compared to the consensus EPS estimate of $1.11. The company issued revenue guidance of $367.00 million-$367.00 million, compared to the consensus revenue estimate of $319.64 million.Boot Barn also updated its FY 2023 guidance to $6.41-$6.41 EPS.

BOOT stock opened at $72.06 on Tuesday. The firm has a 50 day moving average of $93.17 and a two-hundred day moving average of $101.55. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.59 and a beta of 2.78. Boot Barn has a 12 month low of $70.87 and a 12 month high of $134.50.

Boot Barn (NYSE:BOOT – Get Rating) last posted its quarterly earnings data 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 business had revenue of $383.31 million during 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 36.19%. Boot Barn’s quarterly revenue was up 48.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. As a group, sell-side analysts expect that Boot Barn will post 6.43 earnings per share for the current fiscal year.

Several research firms recently issued reports on BOOT. Craig Hallum decreased their price objective on shares of Boot Barn from $162.00 to $145.00 in a report on Wednesday, May 11th. Piper Sandler upgraded shares of Boot Barn from a neutral rating to an overweight rating and upped their target price for the company from $109.00 to $121.00 in a research note on Friday, May 6th. StockNews.com began coverage on shares of Boot Barn in a research note on Thursday, March 31st. They set a hold rating for the company. Robert W. Baird cut their target price on shares of Boot Barn from $145.00 to $130.00 in a research note on Friday, January 28th. Finally, Zacks Investment Research upgraded shares of Boot Barn from a hold rating to a buy rating and set a $101.00 target price for the company in a research note on Monday, May 16th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $122.92.

In other news, CFO James M. Watkins bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The stock was acquired at an average price of $77.00 per share, for a total transaction of $192,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Hazen sold 2,420 shares of the stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $99.73, for a total transaction of $241,346.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,781 shares of company stock valued at $1,610,192. Corporate insiders own 0.86% of the company’s stock.

Large investors have recently modified their holdings of the business. Neo Ivy Capital Management bought a new position in shares of Boot Barn in the 4th quarter valued at about $49,000. Captrust Financial Advisors boosted its stake in shares of 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 purchasing an additional 952 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Boot Barn in the 4th quarter valued at about $207,000. CIBC World Markets Inc. bought a new position in shares of Boot Barn in the 4th quarter valued at about $221,000. Finally, Neuberger Berman Group LLC bought a new position in shares of Boot Barn in the 1st quarter valued at about $237,000.

Boot Barn Company Profile (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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