Boot Barn Holdings to Post FY2019 Earnings of $1.03 Per Share, Jefferies Group Forecasts (BOOT)

Boot Barn Holdings (NYSE:BOOT) – Research analysts at Jefferies Group reduced their FY2019 EPS estimates for shares of Boot Barn in a report issued on Wednesday, May 16th. Jefferies Group analyst R. Konik now forecasts that the company will post earnings of $1.03 per share for the year, down from their previous estimate of $1.05. Jefferies Group has a “Buy” rating and a $30.00 price target on the stock.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Tuesday, May 15th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. Boot Barn had a net margin of 4.26% and a return on equity of 10.26%. The company had revenue of $170.77 million during the quarter, compared to analyst estimates of $164.19 million. During the same period last year, the firm posted $0.12 EPS. Boot Barn’s revenue for the quarter was up 4.8% compared to the same quarter last year.

Other equities analysts have also issued reports about the stock. ValuEngine raised shares of Boot Barn from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Boot Barn from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Thursday, February 8th. Robert W. Baird lifted their target price on shares of Boot Barn from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday. They noted that the move was a valuation call. Piper Jaffray lifted their target price on shares of Boot Barn to $30.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Cowen assumed coverage on shares of Boot Barn in a report on Monday, April 23rd. They set an “outperform” rating and a $22.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Boot Barn has a consensus rating of “Buy” and a consensus target price of $22.00.

Boot Barn opened at $24.49 on Friday, according to Marketbeat. The company has a quick ratio of 0.22, a current ratio of 1.46 and a debt-to-equity ratio of 0.93. The company has a market cap of $665.07 million, a price-to-earnings ratio of 35.03, a price-to-earnings-growth ratio of 1.17 and a beta of 1.58. Boot Barn has a 12-month low of $24.29 and a 12-month high of $26.25.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in Boot Barn in the 1st quarter worth $101,000. SG Americas Securities LLC purchased a new stake in Boot Barn in the 1st quarter worth $107,000. Victory Capital Management Inc. purchased a new stake in Boot Barn in the 1st quarter worth $130,000. MetLife Investment Advisors LLC purchased a new stake in Boot Barn in the 1st quarter worth $170,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Boot Barn by 811.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,908 shares of the company’s stock worth $165,000 after acquiring an additional 8,821 shares in the last quarter. 93.37% of the stock is owned by institutional investors.

In related news, insider Laurie Marie Grijalva sold 26,863 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $18.50, for a total value of $496,965.50. Following the completion of the sale, the insider now owns 33,588 shares of the company’s stock, valued at approximately $621,378. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 86,811 shares of company stock valued at $1,677,345. 4.60% of the stock is owned by insiders.

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, 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.

Earnings History and Estimates for Boot Barn (NYSE:BOOT)

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