Boot Barn Holdings, Inc. (NYSE:BOOT) – Investment analysts at Piper Sandler lifted their Q4 2022 earnings estimates for shares of Boot Barn in a research note issued on Wednesday, January 12th. Piper Sandler analyst P. Keith now forecasts that the company will earn $1.07 per share for the quarter, up from their previous estimate of $0.87. Piper Sandler currently has a “Neutral” rating and a $101.00 target price on the stock. Piper Sandler also issued estimates for Boot Barn’s Q3 2023 earnings at $2.14 EPS, Q4 2023 earnings at $1.03 EPS, FY2023 earnings at $5.48 EPS and FY2024 earnings at $6.18 EPS.
A number of other equities research analysts have also recently weighed in on BOOT. Robert W. Baird lifted their price target on shares of Boot Barn from $125.00 to $145.00 in a research report on Monday, January 10th. Stephens lifted their price target on shares of Boot Barn from $138.00 to $151.00 in a research report on Friday, January 7th. Citigroup lifted their price objective on shares of Boot Barn from $120.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, October 28th. Cowen lifted their price objective on shares of Boot Barn from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 28th. Finally, Craig Hallum lifted their price objective on shares of Boot Barn from $135.00 to $162.00 in a report on Monday, January 10th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Boot Barn currently has an average rating of “Buy” and an average target price of $116.21.
Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Tuesday, October 26th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.29. Boot Barn had a net margin of 11.24% and a return on equity of 30.26%. The business had revenue of $312.70 million during the quarter, compared to analysts’ expectations of $289.36 million. During the same period last year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 69.5% on a year-over-year basis.
In other news, insider Laurie Marie Grijalva sold 13,498 shares of the business’s stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $119.33, for a total transaction of $1,610,716.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Starrett sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $133.94, for a total transaction of $334,850.00. The disclosure for this sale can be found here. Insiders sold 26,849 shares of company stock valued at $3,314,861 in the last quarter. 0.86% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in BOOT. Invesco Ltd. raised its position in Boot Barn by 273.6% in the 2nd quarter. Invesco Ltd. now owns 452,894 shares of the company’s stock valued at $38,066,000 after purchasing an additional 331,662 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Boot Barn in the 3rd quarter valued at $28,827,000. Goldman Sachs Group Inc. raised its position in Boot Barn by 165.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 342,952 shares of the company’s stock valued at $28,826,000 after purchasing an additional 213,856 shares during the last quarter. Nordea Investment Management AB raised its position in Boot Barn by 99.5% in the 3rd quarter. Nordea Investment Management AB now owns 378,262 shares of the company’s stock valued at $35,632,000 after purchasing an additional 188,635 shares during the last quarter. Finally, FMR LLC raised its position in Boot Barn by 15.9% in the 1st quarter. FMR LLC now owns 1,099,719 shares of the company’s stock valued at $32,376,000 after purchasing an additional 150,763 shares during the last quarter.
About Boot Barn
Boot Barn Holdings, Inc engages in the operation of retail stores of western and work-related footwear, apparel, and accessories. The firm’s products include boots, jeans, accessories, hats, gifts and home products, and work wear. Its brands include Ariat, Wrangler, Lucchese Boots, Idyllwind, and Cinch.
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