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

Boot Barn (NYSE:BOOTGet Rating) issued an update on its first quarter 2023 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.14-$1.14 for the period, compared to the consensus 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.

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

BOOT stock traded up $5.96 during mid-day trading on Wednesday, reaching $72.71. The company’s stock had a trading volume of 17,520 shares, compared to its average volume of 630,415. The stock has a market cap of $2.16 billion, a PE ratio of 11.29, a P/E/G ratio of 0.59 and a beta of 2.78. Boot Barn has a fifty-two week low of $66.52 and a fifty-two week high of $134.50. The company’s 50 day moving average is $92.61 and its two-hundred day moving average is $101.31.

Boot Barn (NYSE:BOOTGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.15. The company 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, research analysts forecast that Boot Barn will post 6.43 earnings per share for the current year.

In related news, insider John Hazen sold 3,107 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $76.76, for a total transaction of $238,493.32. Following the sale, the insider now owns 5,566 shares of the company’s stock, valued at $427,246.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James M. Watkins purchased 2,500 shares of Boot Barn stock in a transaction on Thursday, February 24th. The stock was acquired at an average cost of $77.00 per share, for a total transaction of $192,500.00. The disclosure for this purchase can be found here. Insiders sold a total of 16,781 shares of company stock valued at $1,610,192 in the last quarter. 0.86% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Boot Barn by 5.4% in the 4th quarter. BlackRock Inc. now owns 4,655,016 shares of the company’s stock worth $572,802,000 after acquiring an additional 238,170 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Boot Barn by 103.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 309,737 shares of the company’s stock worth $29,360,000 after acquiring an additional 157,669 shares during the period. Renaissance Technologies LLC increased its stake in Boot Barn by 7,720.0% during the 1st quarter. Renaissance Technologies LLC now owns 156,400 shares of the company’s stock valued at $14,825,000 after buying an additional 154,400 shares during the period. Vanguard Group Inc. increased its stake in Boot Barn by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 2,663,917 shares of the company’s stock valued at $252,512,000 after buying an additional 84,077 shares during the period. Finally, Barclays PLC increased its stake in Boot Barn by 80.9% during the 4th quarter. Barclays PLC now owns 137,179 shares of the company’s stock valued at $16,880,000 after buying an additional 61,342 shares during the period.

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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Earnings History and Estimates for Boot Barn (NYSE:BOOT)

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