Boot Barn (NYSE:BOOT – Get Rating) updated its earnings guidance for the third quarter of 2023 on Friday. The company provided EPS guidance of $1.74 to $1.74 for the period, compared to a consensus EPS estimate of $1.78. The company issued earnings guidance of $514.6 million to He $514.6 million, compared to a consensus earnings estimate of $509.79 million.
Analyst sets new price target
Many analysts are weighing the company. StockNews.com assumed Boot Barn’s coverage in its investigative notes on Wednesday, October 12th. They put a sell rating on the stock.Craig Hallum lowered Boot Barn’s price target to his $100.00 in a research note on Thursday, Oct. 27. JPMorgan Chase & Co. raised its price target on Bootburn to $94.00 from $92.00 in a research note on Tuesday. Bank of America undertook coverage on Boot Burn in an investigative report on Friday. They set a buy valuation and a target price of $85.00 for the stock. Finally, Robert W. Baird lowered his Boot Barn price target from his $80.00 to his $75.00, setting an Outperform valuation on the stock in its research report on Thursday, Oct. 27. One analyst gave a sell rating, one assigned a hold rating, and five analysts gave the company a buy rating. According to MarketBeat.com data, Boot Barn currently has a consensus rating of medium buy, with a consensus price target of $94.00.
Boot Barn inventory reduced by 1.9%
NYSE BOOT opened Friday at $63.00. Boot Barn has a 52-week low of $50.20 and a 52-week high of $126.60. The business has a 50-day moving average price of $61.09 and a 200-day moving average price of $64.20. The company has a market cap of $1.88 billion, a P/E ratio of 10.34, a P/E/G ratio of 0.55 and a beta of 2.25.
Boot Barn (NYSE:BOOT – Get Rating) last reported quarterly results on Wednesday, Oct. 26. The company reported his earnings per share (EPS) of $1.06 for the quarter, $0.15 above analyst consensus expectations of $0.91. Boot Barn’s return on equity was 29.71% and net profit margin was 11.68%. The company’s revenue for the quarter was $351.55 million, compared with analyst estimates of $343 million. During the same quarter last year, the company posted his $1.22 earnings per share. Business revenue increased by 12.4% year-on-year. As a group, analysts expect Boot Barn to post earnings of 5.79 per share for the current year.
Insider trading on Boot Barn
In separate Boot Barn news, CFO James M. Watkins acquired 2,500 shares in the Wednesday, November 9th deal. Shares were purchased at an average price of $52.34 per share for a total of $130,850.00. Post-acquisition, the Chief Financial Officer now owns 11,730 shares of the Company stock valued at $613,948.20. The acquisition is disclosed in documents filed with the Securities and Exchange Commission, available at this hyperlink. His 1.20% of the shares are owned by corporate insiders.
Institutional investors weigh heavily on boot barns
Several institutional investors have recently changed their BOOT holdings. Point72 Hong Kong Ltd purchased a new stake in Boot Barn worth approximately $105,000 in the second quarter. Captrust Financial Advisors increased its stake in Boot Barn by 14.7% in the second quarter. Captrust Financial Advisors now owns 1,767 shares of the company worth $122,000 after acquiring an additional 226 shares in the previous quarter. Neuberger Berman Group LLC purchased approximately $237,000 worth of new Boot Barn stock in the first quarter. Mackenzie Financial Corp increased its stake in Boot Barn by 9.9% in the first quarter. Mackenzie Financial Corp now owns 2,611 shares of the company worth $247,000 after acquiring another 235 shares last quarter. Finally, Guggenheim Capital LLC increased its stake in Boot Barn by 15.7% in the first quarter. Guggenheim Capital LLC owns 2,817 shares of the company worth $267,000 after acquiring an additional 382 shares in the previous quarter.
Bootburn company profile
Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company’s specialty retailers offer Western and work-related footwear, apparel and accessories for men, women and children. We offer boots, shirts, jackets, hats, belts, belt buckles, handbags, western style jewelry, rugged shoes, outerwear, overalls, denim and flame retardant high visibility clothing.
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