Boot Barn (NYSE:BOOT) Announces Quarterly Earnings Results

Boot Barn (NYSE:BOOT) announced its earnings results on Wednesday. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.11, Morningstar.com reports. The company had revenue of $185.77 million during the quarter, compared to analyst estimates of $179.98 million. Boot Barn had a net margin of 5.02% and a return on equity of 14.65%. Boot Barn’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share.

Shares of NYSE BOOT traded down $1.66 during midday trading on Friday, hitting $31.10. The company’s stock had a trading volume of 22,454 shares, compared to its average volume of 559,317. The company’s fifty day moving average price is $33.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.83 and a quick ratio of 0.24. Boot Barn has a 1 year low of $15.01 and a 1 year high of $39.59. The stock has a market capitalization of $933.01 million, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.25 and a beta of 2.38.

BOOT has been the subject of several research analyst reports. ValuEngine lowered shares of Boot Barn from a “buy” rating to a “hold” rating in a research note on Thursday. Pivotal Research reaffirmed a “hold” rating and set a $35.00 target price (up previously from $31.00) on shares of Boot Barn in a research note on Thursday. Citigroup lowered shares of Boot Barn from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $33.00 in a research note on Monday, July 15th. Wells Fargo & Co set a $30.00 target price on shares of Boot Barn and gave the stock a “hold” rating in a research note on Friday, May 17th. Finally, Robert W. Baird lowered shares of Boot Barn from an “outperform” rating to a “neutral” rating and set a $36.00 target price for the company. in a research note on Monday, July 8th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $35.10.

In other news, CEO James Grant Conroy sold 81,224 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $33.00, for a total value of $2,680,392.00. Following the completion of the transaction, the chief executive officer now owns 25,868 shares of the company’s stock, valued at $853,644. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BOOT. Great West Life Assurance Co. Can bought a new stake in Boot Barn during the 4th quarter valued at $41,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Boot Barn by 43.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the company’s stock valued at $56,000 after buying an additional 476 shares in the last quarter. Quantamental Technologies LLC boosted its stake in Boot Barn by 407.4% during the first quarter. Quantamental Technologies LLC now owns 2,740 shares of the company’s stock valued at $81,000 after buying an additional 2,200 shares in the last quarter. Legal & General Group Plc boosted its stake in Boot Barn by 7.8% during the fourth quarter. Legal & General Group Plc now owns 5,058 shares of the company’s stock valued at $86,000 after buying an additional 368 shares in the last quarter. Finally, Aperio Group LLC bought a new position in Boot Barn during the second quarter valued at about $100,000.

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.

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Earnings History for Boot Barn (NYSE:BOOT)

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