Boot Barn (NYSE:BOOT) Issues Earnings Results, Beats Expectations By $0.18 EPS

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

Boot Barn Stock Up 1.6 %

BOOT stock traded up $2.17 during mid-day trading on Friday, hitting $133.88. 919,647 shares of the company were exchanged, compared to its average volume of 816,174. The firm has a market capitalization of $4.07 billion, a P/E ratio of 27.89 and a beta of 2.09. The business has a fifty day simple moving average of $127.00 and a 200-day simple moving average of $106.63. Boot Barn has a 12-month low of $66.73 and a 12-month high of $137.48.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BOOT shares. UBS Group upped their price objective on shares of Boot Barn from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Thursday. Citigroup upped their price objective on shares of Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. TD Cowen upped their price objective on shares of Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Craig Hallum upped their price objective on shares of Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Boot Barn from $125.00 to $146.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.36.

Insiders Place Their Bets

In other news, Director Brenda I. Morris sold 1,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,546 shares of the company’s stock, valued at $500,560.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Brenda I. Morris sold 1,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,546 shares of the company’s stock, valued at $500,560.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael A. Love sold 5,653 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total transaction of $642,237.33. Following the completion of the transaction, the insider now directly owns 2,327 shares of the company’s stock, valued at approximately $264,370.47. The disclosure for this sale can be found here. Insiders sold a total of 11,795 shares of company stock valued at $1,329,686 over the last 90 days. 2.20% of the stock is owned by company insiders.

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.