Zacks: Analysts Expect Boot Barn Holdings Inc (NYSE:BOOT) Will Post Quarterly Sales of $283.95 Million

Analysts expect that Boot Barn Holdings Inc (NYSE:BOOT) will post sales of $283.95 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Boot Barn’s earnings, with the lowest sales estimate coming in at $283.90 million and the highest estimate coming in at $284.00 million. Boot Barn posted sales of $254.01 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.8%. The business is scheduled to report its next earnings report after the market closes on Tuesday, February 4th.

On average, analysts expect that Boot Barn will report full year sales of $870.07 million for the current year, with estimates ranging from $867.80 million to $872.00 million. For the next financial year, analysts forecast that the firm will post sales of $968.73 million, with estimates ranging from $953.85 million to $981.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Boot Barn.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The business had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $184.13 million. Boot Barn had a return on equity of 16.61% and a net margin of 5.51%. Boot Barn’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS.

Several research firms have commented on BOOT. Craig Hallum began coverage on Boot Barn in a research note on Friday, October 4th. They issued a “buy” rating and a $46.00 target price on the stock. Piper Sandler boosted their target price on Boot Barn from to and gave the company an “overweight” rating in a research note on Tuesday. ValuEngine cut Boot Barn from a “hold” rating to a “sell” rating in a research note on Wednesday. Cowen boosted their target price on Boot Barn from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, DA Davidson restated a “buy” rating and issued a $52.00 target price on shares of Boot Barn in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $44.00.

NYSE BOOT traded down $0.59 during trading on Monday, hitting $43.65. The stock had a trading volume of 986,734 shares, compared to its average volume of 675,148. The company has a market capitalization of $1.26 billion, a PE ratio of 28.16, a P/E/G ratio of 1.47 and a beta of 2.27. The company’s 50-day moving average price is $43.46 and its two-hundred day moving average price is $37.17. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.12 and a current ratio of 1.14. Boot Barn has a 12 month low of $21.25 and a 12 month high of $48.11.

In other Boot Barn news, insider Laurie Marie Grijalva sold 19,625 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $39.91, for a total transaction of $783,233.75. Following the transaction, the insider now owns 21,747 shares of the company’s stock, valued at approximately $867,922.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brenda I. Morris sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $42.21, for a total value of $105,525.00. The disclosure for this sale can be found here. Insiders have sold a total of 145,111 shares of company stock worth $6,084,607 in the last ninety days. Insiders own 1.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. FTB Advisors Inc. acquired a new position in shares of Boot Barn during the 4th quarter worth approximately $26,000. Private Capital Group LLC increased its holdings in shares of Boot Barn by 110.6% during the 2nd quarter. Private Capital Group LLC now owns 1,255 shares of the company’s stock worth $26,000 after acquiring an additional 659 shares during the last quarter. Meadow Creek Investment Management LLC acquired a new position in shares of Boot Barn during the 2nd quarter worth approximately $124,000. Glen Harbor Capital Management LLC acquired a new position in shares of Boot Barn during the 2nd quarter worth approximately $158,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Boot Barn during the 2nd quarter worth approximately $165,000.

About Boot Barn

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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