Boot Barn (NYSE:BOOT) Issues Q3 Earnings Guidance

Boot Barn (NYSE:BOOT) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $1.96-$2.07 for the period, compared to the consensus earnings per share estimate of $2.11. The company issued revenue guidance of $582-$595 million, compared to the consensus revenue estimate of $589.32 million.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BTIG Research lifted their price target on shares of Boot Barn from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Piper Sandler boosted their target price on shares of Boot Barn from $147.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Citigroup upped their price target on shares of Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a report on Friday, July 19th. Robert W. Baird boosted their price objective on Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and increased their target price for the company from $154.00 to $162.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $157.20.

Boot Barn Stock Performance

NYSE BOOT traded up $3.22 during trading on Monday, reaching $161.22. 1,204,672 shares of the company traded hands, compared to its average volume of 739,849. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 33.59 and a beta of 2.12. Boot Barn has a 1-year low of $66.73 and a 1-year high of $169.83. The stock’s 50 day moving average price is $154.19 and its two-hundred day moving average price is $131.74.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.18. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The firm had revenue of $423.40 million during the quarter, compared to analyst estimates of $415.04 million. During the same period in the prior year, the company posted $1.11 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts expect that Boot Barn will post 5.29 EPS for the current fiscal year.

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.