Wall Street brokerages expect Boot Barn Holdings Inc (NYSE:BOOT) to post sales of $159.57 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Boot Barn’s earnings, with the highest sales estimate coming in at $160.30 million and the lowest estimate coming in at $158.94 million. Boot Barn reported sales of $139.38 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.5%. The business is scheduled to issue its next quarterly earnings report on Tuesday, August 7th.
According to Zacks, analysts expect that Boot Barn will report full-year sales of $753.93 million for the current year, with estimates ranging from $748.40 million to $758.00 million. For the next year, analysts anticipate that the firm will post sales of $838.97 million per share, with estimates ranging from $835.00 million to $843.73 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Boot Barn.
Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Tuesday, May 15th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.08. Boot Barn had a return on equity of 9.93% and a net margin of 4.26%. The business had revenue of $170.77 million for the quarter, compared to the consensus estimate of $164.19 million. During the same period last year, the business posted $0.12 EPS. The business’s revenue was up 4.8% compared to the same quarter last year.
A number of analysts have recently weighed in on the company. Zacks Investment Research cut Boot Barn from a “buy” rating to a “sell” rating in a research report on Tuesday, April 3rd. Wells Fargo & Co set a $25.00 price objective on Boot Barn and gave the stock a “hold” rating in a research report on Wednesday, May 16th. Pivotal Research set a $20.00 price objective on Boot Barn and gave the stock a “hold” rating in a research report on Monday, May 14th. Cowen assumed coverage on Boot Barn in a research report on Monday, April 23rd. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, Jefferies Financial Group raised their price objective on Boot Barn to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 16th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $23.44.
In other Boot Barn news, CEO James Grant Conroy sold 271,406 shares of Boot Barn stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $23.87, for a total transaction of $6,478,461.22. Following the completion of the transaction, the chief executive officer now owns 41,892 shares in the company, valued at approximately $999,962.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Fs Equity Partners Vi, L.P. sold 7,021,771 shares of Boot Barn stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $23.25, for a total value of $163,256,175.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,490,780 shares of company stock valued at $174,174,333. 4.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd raised its stake in shares of Boot Barn by 121.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 39,327 shares of the company’s stock valued at $697,000 after buying an additional 21,544 shares during the last quarter. Atlantic Trust Group LLC purchased a new position in shares of Boot Barn in the 1st quarter valued at about $1,752,000. California State Teachers Retirement System increased its stake in shares of Boot Barn by 55.5% in the 1st quarter. California State Teachers Retirement System now owns 29,911 shares of the company’s stock valued at $530,000 after purchasing an additional 10,674 shares in the last quarter. Barclays PLC increased its stake in shares of Boot Barn by 216.3% in the 1st quarter. Barclays PLC now owns 60,638 shares of the company’s stock valued at $1,077,000 after purchasing an additional 41,469 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Boot Barn by 49.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 14,791 shares of the company’s stock valued at $262,000 after purchasing an additional 4,883 shares in the last quarter.
Shares of Boot Barn traded up $0.33, reaching $21.65, on Friday, MarketBeat Ratings reports. The company had a trading volume of 243,290 shares, compared to its average volume of 613,250. Boot Barn has a 52-week low of $6.10 and a 52-week high of $26.25. The company has a market capitalization of $585.79 million, a PE ratio of 30.93, a P/E/G ratio of 1.01 and a beta of 1.66. The company has a current ratio of 1.60, a quick ratio of 0.20 and a debt-to-equity ratio of 0.89.
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, ladies, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.
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