Boot Barn Holdings, Inc. to Post FY2023 Earnings of $6.41 Per Share, Seaport Res Ptn Forecasts (NYSE:BOOT)

Boot Barn Holdings, Inc. (NYSE:BOOT – Get Rating) – Research analysts at Seaport Res Ptn lifted their FY2023 earnings per share (EPS) estimates for Boot Barn in a report issued on Wednesday, May 11th. Seaport Res Ptn analyst M. Kummetz now anticipates that the company will post earnings per share of $6.41 for the year, up from their previous forecast of $5.19. Seaport Res Ptn currently has a “Neutral” rating on the stock. Seaport Res Ptn also issued estimates for Boot Barn’s FY2024 earnings at $6.89 EPS.

Boot Barn (NYSE:BOOT – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.15. The business had revenue of $383.31 million during the quarter, compared to analyst estimates of $354.02 million. Boot Barn had a return on equity of 36.19% and a net margin of 12.93%. The company’s revenue was up 48.1% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS.

BOOT has been the subject of several other research reports. Zacks Investment Research raised Boot Barn from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research report on Monday. Robert W. Baird cut their price objective on Boot Barn from $145.00 to $130.00 in a report on Friday, January 28th. Craig Hallum cut their price objective on Boot Barn from $162.00 to $145.00 in a report on Wednesday, May 11th. StockNews.com began coverage on Boot Barn in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Piper Sandler upgraded Boot Barn from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $109.00 to $121.00 in a report on Friday, May 6th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $122.92.

Shares of Boot Barn stock opened at $92.84 on Monday. The stock has a market cap of $2.76 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 0.70 and a beta of 2.78. The business has a fifty day simple moving average of $94.08 and a 200-day simple moving average of $102.76. Boot Barn has a 12 month low of $69.44 and a 12 month high of $134.50.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new position in shares of Boot Barn in the 1st quarter worth approximately $600,000. Quantbot Technologies LP bought a new position in Boot Barn in the 1st quarter worth approximately $1,950,000. Royal Bank of Canada raised its position in Boot Barn by 19.5% in the 1st quarter. Royal Bank of Canada now owns 6,315 shares of the company’s stock worth $598,000 after purchasing an additional 1,030 shares during the last quarter. Select Equity Group L.P. bought a new position in Boot Barn in the 1st quarter worth approximately $500,000. Finally, Shellback Capital LP raised its position in Boot Barn by 22.0% in the 1st quarter. Shellback Capital LP now owns 171,600 shares of the company’s stock worth $16,266,000 after purchasing an additional 31,000 shares during the last quarter.

In other Boot Barn news, insider John Hazen sold 2,420 shares of Boot Barn stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $99.73, for a total transaction of $241,346.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO James M. Watkins acquired 2,500 shares of the firm’s stock in a transaction on Thursday, February 24th. The shares were bought 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. 0.86% of the stock is owned by company insiders.

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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