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

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

Boot Barn Stock Performance

Shares of Boot Barn stock traded up $2.17 during midday trading on Friday, reaching $133.88. 919,647 shares of the company’s stock traded hands, compared to its average volume of 816,174. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 27.89 and a beta of 2.09. The company’s 50 day simple moving average is $127.00 and its 200 day simple moving average is $106.40. Boot Barn has a 52 week low of $66.73 and a 52 week high of $137.48.

Insider Activity

In related news, Director Brenda I. Morris sold 1,500 shares of Boot Barn stock in a transaction on Thursday, May 23rd. The shares were 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 in the company, valued at approximately $500,560.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Michael A. Love sold 5,653 shares of Boot Barn stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total value of $642,237.33. Following the transaction, the insider now owns 2,327 shares in the company, valued at approximately $264,370.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brenda I. Morris sold 1,500 shares of the firm’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 sale, the director now owns 4,546 shares in the company, 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 worth $1,329,686. 2.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Boot Barn from $125.00 to $146.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Craig Hallum raised their target price on Boot Barn from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Boot Barn in a research note on Tuesday. Robert W. Baird raised their price objective on Boot Barn from $132.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Citigroup raised their target price on Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.36.

About Boot Barn

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.