Boot Barn (NYSE:BOOT) Releases FY23 Earnings Guidance

Boot Barn (NYSE:BOOTGet Rating) updated its FY23 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.51-5.60 for the period, compared to the consensus estimate of $5.72. The company issued revenue guidance of $1.67-1.68 billion, compared to the consensus revenue estimate of $1.66 billion. Boot Barn also updated its Q4 guidance to $1.42-1.51 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BOOT. Citigroup dropped their price target on Boot Barn from $99.00 to $93.00 and set a buy rating on the stock in a research note on Thursday, October 27th. StockNews.com began coverage on Boot Barn in a research note on Wednesday, October 12th. They issued a sell rating on the stock. Bank of America began coverage on Boot Barn in a research note on Friday, January 6th. They issued a buy rating and a $85.00 price target on the stock. Robert W. Baird dropped their price target on Boot Barn from $80.00 to $75.00 and set an outperform rating on the stock in a research note on Thursday, October 27th. Finally, UBS Group increased their price target on Boot Barn from $69.00 to $75.00 in a research note on Thursday, January 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $88.89.

Boot Barn Trading Up 1.3 %

BOOT stock traded up $0.97 during trading hours on Wednesday, hitting $74.37. 741,952 shares of the stock were exchanged, compared to its average volume of 989,278. The firm has a market capitalization of $2.22 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.26 and a beta of 2.25. The company has a 50-day simple moving average of $65.30 and a two-hundred day simple moving average of $64.19. Boot Barn has a 12 month low of $50.20 and a 12 month high of $105.66.

Boot Barn (NYSE:BOOTGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.15. The firm had revenue of $351.55 million for the quarter, compared to analysts’ expectations of $343.00 million. Boot Barn had a return on equity of 29.71% and a net margin of 11.68%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 EPS. On average, equities research analysts predict that Boot Barn will post 5.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO James M. Watkins bought 2,500 shares of Boot Barn stock in a transaction dated Wednesday, November 9th. The shares were bought at an average cost of $52.34 per share, with a total value of $130,850.00. Following the acquisition, the chief financial officer now owns 11,730 shares in the company, valued at approximately $613,948.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Boot Barn

Several large investors have recently modified their holdings of BOOT. Goldman Sachs Group Inc. grew its holdings in shares of Boot Barn by 191.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 326,859 shares of the company’s stock worth $22,524,000 after purchasing an additional 214,704 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Boot Barn by 103.7% in the first quarter. The Manufacturers Life Insurance Company now owns 309,737 shares of the company’s stock valued at $29,360,000 after buying an additional 157,669 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Boot Barn by 7,720.0% in the first 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 in the last quarter. Vanguard Group Inc. boosted its stake in Boot Barn by 3.3% in the first 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 in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Boot Barn by 23.5% in the second quarter. Macquarie Group Ltd. now owns 334,650 shares of the company’s stock valued at $23,061,000 after buying an additional 63,688 shares in the last quarter.

About Boot Barn

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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.

Further Reading

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

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