Seaport Res Ptn Brokers Cut Earnings Estimates for Boot Barn Holdings, Inc. (NYSE:BOOT)
Boot Barn Holdings, Inc. (NYSE:BOOT – Free Report) – Research analysts at Seaport Res Ptn lowered their FY2024 earnings estimates for Boot Barn in a report released on Monday, January 22nd. Seaport Res Ptn analyst M. Kummetz now anticipates that the company will post earnings of $4.90 per share for the year, down from their previous forecast of $4.92. The consensus estimate for Boot Barn’s current full-year earnings is $4.98 per share. Seaport Res Ptn also issued estimates for Boot Barn’s Q4 2024 earnings at $1.09 EPS, FY2025 earnings at $5.50 EPS and FY2026 earnings at $6.20 EPS.
A number of other brokerages also recently weighed in on BOOT. Citigroup lowered their price objective on shares of Boot Barn from $116.00 to $96.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. B. Riley started coverage on shares of Boot Barn in a report on Tuesday, November 21st. They set a “buy” rating and a $92.00 target price for the company. UBS Group raised shares of Boot Barn from a “neutral” rating to a “buy” rating and upped their target price for the company from $75.00 to $108.00 in a report on Friday, January 5th. StockNews.com cut shares of Boot Barn from a “hold” rating to a “sell” rating in a report on Friday, January 19th. Finally, Piper Sandler reduced their target price on shares of Boot Barn from $120.00 to $99.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boot Barn currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.30.
Read Our Latest Research Report on BOOT
Boot Barn Stock Performance
Shares of NYSE BOOT opened at $73.53 on Wednesday. The company has a market cap of $2.23 billion, a PE ratio of 13.87, a P/E/G ratio of 5.33 and a beta of 2.25. The firm’s 50 day moving average price is $74.30 and its 200-day moving average price is $81.28. Boot Barn has a 52-week low of $64.33 and a 52-week high of $104.91.
Boot Barn (NYSE:BOOT – Get Free Report) last issued its earnings results on Thursday, November 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $374.46 million for the quarter, compared to the consensus estimate of $378.44 million. Boot Barn had a net margin of 9.49% and a return on equity of 20.28%.
Hedge Funds Weigh In On Boot Barn
Several institutional investors have recently bought and sold shares of BOOT. State of Wyoming grew its stake in Boot Barn by 57.3% during the second quarter. State of Wyoming now owns 552 shares of the company’s stock valued at $47,000 after acquiring an additional 201 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Boot Barn during the first quarter valued at $68,000. Pinebridge Investments L.P. bought a new position in Boot Barn during the second quarter valued at $77,000. Lazard Asset Management LLC lifted its position in Boot Barn by 75.3% during the fourth quarter. Lazard Asset Management LLC now owns 1,686 shares of the company’s stock valued at $105,000 after purchasing an additional 724 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Boot Barn during the second quarter valued at $105,000.
Insider Transactions at Boot Barn
In other news, CFO James M. Watkins sold 15,099 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $75.19, for a total value of $1,135,293.81. Following the completion of the sale, the chief financial officer now directly owns 12,819 shares of the company’s stock, valued at $963,860.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.
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.
Further Reading
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