Zacks: Brokerages Anticipate Boot Barn Holdings Inc (BOOT) Will Post Quarterly Sales of $188.89 Million

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Wall Street analysts expect Boot Barn Holdings Inc (NYSE:BOOT) to announce sales of $188.89 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Boot Barn’s earnings, with the lowest sales estimate coming in at $188.00 million and the highest estimate coming in at $189.63 million. Boot Barn reported sales of $170.77 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.6%. The firm is scheduled to announce its next earnings results on Tuesday, May 21st.

On average, analysts expect that Boot Barn will report full year sales of $772.97 million for the current fiscal year, with estimates ranging from $772.10 million to $773.73 million. For the next financial year, analysts anticipate that the company will post sales of $860.84 million, with estimates ranging from $855.40 million to $869.75 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Boot Barn.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Tuesday, February 5th. The company reported $0.66 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.66. Boot Barn had a return on equity of 13.54% and a net margin of 4.93%. The firm had revenue of $254.00 million during the quarter, compared to analysts’ expectations of $254.55 million. During the same quarter last year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis.

BOOT has been the topic of a number of research analyst reports. Pivotal Research raised shares of Boot Barn from a “hold” rating to a “buy” rating and lowered their price objective for the company from $27.00 to $24.00 in a research report on Monday, January 7th. JPMorgan Chase & Co. reduced their price objective on shares of Boot Barn from $34.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 7th. ValuEngine upgraded shares of Boot Barn from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Wells Fargo & Co reduced their price objective on shares of Boot Barn from $29.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, January 2nd. Finally, Sidoti initiated coverage on shares of Boot Barn in a research note on Thursday, March 14th. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $28.22.

In related news, Director Brenda I. Morris sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $28.04, for a total transaction of $196,280.00. Following the completion of the transaction, the director now directly owns 17,724 shares in the company, valued at approximately $496,980.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in BOOT. Legal & General Group Plc grew its stake in shares of Boot Barn by 7.8% during the 4th quarter. Legal & General Group Plc now owns 5,058 shares of the company’s stock worth $86,000 after acquiring an additional 368 shares in the last quarter. Sterling Investment Advisors Ltd. lifted its holdings in shares of Boot Barn by 33.3% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 4,000 shares of the company’s stock worth $68,000 after buying an additional 1,000 shares in the last quarter. Chicago Equity Partners LLC lifted its holdings in shares of Boot Barn by 3.3% during the fourth quarter. Chicago Equity Partners LLC now owns 44,545 shares of the company’s stock worth $759,000 after buying an additional 1,405 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of Boot Barn by 16.3% during the fourth quarter. United Services Automobile Association now owns 10,055 shares of the company’s stock worth $171,000 after buying an additional 1,412 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Boot Barn by 106.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,541 shares of the company’s stock worth $60,000 after buying an additional 1,827 shares in the last quarter.

NYSE BOOT traded down $1.11 during mid-day trading on Friday, reaching $30.55. 14,388 shares of the stock were exchanged, compared to its average volume of 1,101,348. Boot Barn has a 1-year low of $15.01 and a 1-year high of $32.21. The firm has a market cap of $896.93 million, a P/E ratio of 45.41, a price-to-earnings-growth ratio of 1.00 and a beta of 2.31. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.40 and a current ratio of 1.62.

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.

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