Boot Barn (NYSE:BOOT) Updates Q4 Earnings Guidance

Boot Barn (NYSE:BOOT – Get Rating) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.42-1.51 for the period, compared to the consensus earnings per share estimate of $1.62. The company issued revenue guidance of $438-448 million, compared to the consensus revenue estimate of $433.07 million. Boot Barn also updated its FY23 guidance to $5.51-5.60 EPS.

Analysts Set New Price Targets

Several analysts have issued reports on BOOT shares. StockNews.com started coverage on shares of Boot Barn in a report on Wednesday, October 12th. They issued a sell rating on the stock. UBS Group upped their price target on shares of Boot Barn from $69.00 to $75.00 in a report on Thursday, January 19th. JPMorgan Chase & Co. upped their price target on shares of Boot Barn from $92.00 to $94.00 in a report on Tuesday, January 3rd. Citigroup reduced their price target on shares of Boot Barn from $99.00 to $93.00 and set a buy rating on the stock in a report on Thursday, October 27th. Finally, Robert W. Baird reduced their price target on shares of Boot Barn from $80.00 to $75.00 and set an outperform rating on the stock in a report on Thursday, October 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Boot Barn presently has a consensus rating of Moderate Buy and a consensus target price of $88.89.

Boot Barn Stock Up 1.3 %

Shares of NYSE:BOOT traded up $0.97 during trading on Wednesday, reaching $74.37. The stock had a trading volume of 741,952 shares, compared to its average volume of 989,278. The business has a fifty day moving average price of $65.30 and a 200-day moving average price of $64.19. The stock has a market cap of $2.22 billion, a P/E ratio of 12.21, a PEG ratio of 1.26 and a beta of 2.25. Boot Barn has a fifty-two week low of $50.20 and a fifty-two week high of $105.66.

Boot Barn (NYSE:BOOT – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.91 by $0.15. Boot Barn had a net margin of 11.68% and a return on equity of 29.71%. The firm had revenue of $351.55 million during the quarter, compared to analyst estimates of $343.00 million. During the same quarter in the prior year, the business posted $1.22 earnings per share. Boot Barn’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities analysts forecast that Boot Barn will post 5.74 EPS for the current year.

Insiders Place Their Bets

In related news, CFO James M. Watkins acquired 2,500 shares of Boot Barn stock in a transaction on Wednesday, November 9th. The shares were purchased at an average cost of $52.34 per share, for a total transaction of $130,850.00. Following the purchase, the chief financial officer now directly owns 11,730 shares of the company’s stock, valued at approximately $613,948.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Boot Barn

Large investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new position in Boot Barn during the 2nd quarter valued at about $105,000. Captrust Financial Advisors boosted its holdings in shares of Boot Barn by 161.6% in the first quarter. Captrust Financial Advisors now owns 1,541 shares of the company’s stock worth $146,000 after buying an additional 952 shares during the period. Neuberger Berman Group LLC acquired a new position in shares of Boot Barn in the first quarter worth about $237,000. Mackenzie Financial Corp lifted its position in shares of Boot Barn by 9.9% in the first quarter. Mackenzie Financial Corp now owns 2,611 shares of the company’s stock worth $247,000 after purchasing an additional 235 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of Boot Barn by 15.7% in the first quarter. Guggenheim Capital LLC now owns 2,817 shares of the company’s stock worth $267,000 after purchasing an additional 382 shares in the last quarter.

Boot Barn Company Profile

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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.