Boot Barn (NYSE:BOOT) Announces Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Boot Barn (NYSE:BOOT) announced its earnings results on Wednesday. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.18, Briefing.com reports. The business had revenue of $423.40 million during the quarter, compared to the consensus estimate of $415.04 million. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share.

Boot Barn Stock Up 1.6 %

Shares of NYSE:BOOT traded up $2.17 during trading on Friday, hitting $133.88. 919,647 shares of the company traded hands, compared to its average volume of 816,174. The business’s fifty day moving average is $127.00 and its 200-day moving average is $106.40. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 27.89 and a beta of 2.09. Boot Barn has a one year low of $66.73 and a one year high of $137.48.

Insider Buying and Selling

In related news, Director Brenda I. Morris sold 1,500 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total transaction of $165,165.00. Following the completion of the transaction, the director now directly owns 4,546 shares in the company, valued at approximately $500,560.06. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Boot Barn news, insider John Hazen sold 3,563 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $113.21, for a total value of $403,367.23. Following the sale, the insider now owns 1,309 shares in the company, valued at $148,191.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brenda I. Morris sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total value of $165,165.00. Following the transaction, the director now owns 4,546 shares of the company’s stock, valued at $500,560.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,795 shares of company stock valued at $1,329,686. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group raised their price objective on Boot Barn from $125.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday. Citigroup lifted their price target on shares of Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. BTIG Research increased their price objective on shares of Boot Barn from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. Piper Sandler boosted their target price on shares of Boot Barn from $144.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, TD Cowen upped their target price on shares of Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.36.

Boot Barn Company Profile

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.