Boot Barn (NYSE:BOOT) Updates Q3 Earnings Guidance

Boot Barn (NYSE:BOOT) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $1.96-$2.07 for the period, compared to the consensus earnings per share estimate of $2.11. The company issued revenue guidance of $582-$595 million, compared to the consensus revenue estimate of $589.32 million.

Boot Barn Stock Performance

Shares of BOOT traded up $3.22 during mid-day trading on Monday, hitting $161.22. 1,272,515 shares of the company were exchanged, compared to its average volume of 740,540. Boot Barn has a 1-year low of $66.73 and a 1-year high of $169.83. The company has a 50 day moving average of $154.19 and a 200-day moving average of $131.74. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 33.59 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.18. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The company had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $415.04 million. During the same quarter in the prior year, the company earned $1.11 EPS. Boot Barn’s revenue was up 10.3% compared to the same quarter last year. Research analysts anticipate that Boot Barn will post 5.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on BOOT. Citigroup upped their price objective on shares of Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and upped their price objective for the company from $154.00 to $162.00 in a research note on Friday. Piper Sandler upped their price objective on shares of Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Finally, Robert W. Baird increased their price target on shares of Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $157.20.

Boot Barn Company Profile

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.