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

Boot Barn (NYSE:BOOTGet Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided EPS guidance of $6.41-$6.41 for the period, compared to the consensus EPS estimate of $5.56. The company issued revenue guidance of $1.74 billion-$1.74 billion, compared to the consensus revenue estimate of $1.54 billion.Boot Barn also updated its Q1 2023 guidance to $1.14-$1.14 EPS.

A number of equities research analysts have commented on the company. Piper Sandler raised Boot Barn from a neutral rating to an overweight rating and raised their target price for the company from $109.00 to $121.00 in a report on Friday, May 6th. Craig Hallum cut their price target on Boot Barn from $162.00 to $145.00 in a research note on Wednesday, May 11th. Robert W. Baird raised Boot Barn from a neutral rating to an outperform rating and set a $115.00 price target for the company in a research note on Friday, May 27th. Zacks Investment Research raised Boot Barn from a hold rating to a buy rating and set a $101.00 price target for the company in a research note on Monday, May 16th. Finally, StockNews.com initiated coverage on Boot Barn in a research note on Thursday, March 31st. They set a hold rating for the company. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $121.67.

Boot Barn stock opened at $84.96 on Tuesday. The stock has a market cap of $2.53 billion, a PE ratio of 13.40, a P/E/G ratio of 0.66 and a beta of 2.80. The stock has a 50-day moving average price of $89.23 and a 200 day moving average price of $98.53. Boot Barn has a 52 week low of $65.79 and a 52 week high of $134.50.

Boot Barn (NYSE:BOOTGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.15. The firm had revenue of $383.31 million during the quarter, compared to analysts’ expectations of $354.02 million. Boot Barn had a return on equity of 36.19% and a net margin of 12.93%. The firm’s quarterly revenue was up 48.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. Equities research analysts predict that Boot Barn will post 6.43 EPS for the current fiscal year.

In other Boot Barn news, Director Peter Starrett purchased 1,200 shares of the stock in a transaction on Friday, May 27th. The stock was bought at an average price of $80.89 per share, for a total transaction of $97,068.00. Following the acquisition, the director now directly owns 10,799 shares of the company’s stock, valued at $873,531.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Hazen sold 1,087 shares of Boot Barn stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $66.69, for a total value of $72,492.03. Following the completion of the sale, the insider now owns 15,319 shares of the company’s stock, valued at approximately $1,021,624.11. The disclosure for this sale can be found here. Insiders sold a total of 24,180 shares of company stock valued at $2,152,991 in the last 90 days. 0.86% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Boot Barn by 5.4% during the 4th quarter. BlackRock Inc. now owns 4,655,016 shares of the company’s stock worth $572,802,000 after purchasing an additional 238,170 shares during the period. Vanguard Group Inc. grew its holdings in shares of Boot Barn by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 2,663,917 shares of the company’s stock worth $252,512,000 after purchasing an additional 84,077 shares during the period. State Street Corp grew its holdings in shares of Boot Barn by 2.5% during the 1st quarter. State Street Corp now owns 965,998 shares of the company’s stock worth $91,567,000 after purchasing an additional 23,442 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Boot Barn by 103.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 309,737 shares of the company’s stock worth $29,360,000 after purchasing an additional 157,669 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Boot Barn by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 248,162 shares of the company’s stock worth $23,523,000 after purchasing an additional 4,393 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.

Recommended Stories

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.