FY2027 EPS Estimates for Boot Barn Increased by Analyst

Key Points

• Seaport Res Ptn has increased its FY2027 earnings per share estimates for Boot Barn from $7.28 to $7.36, while the current consensus estimate stands at $5.82.
• Numerous analysts have raised their price targets for Boot Barn, with UBS Group setting a new target of $210.00, while JPMorgan Chase increased theirs to $247.00.
• Boot Barn's Board of Directors approved a $200 million stock buyback plan, which could indicate that they believe their shares are undervalued.

Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) - Analysts at Seaport Res Ptn increased their FY2027 earnings estimates for Boot Barn in a report issued on Monday, July 28th. Seaport Res Ptn analyst M. Kummetz now expects that the company will post earnings of $7.36 per share for the year, up from their previous forecast of $7.28. The consensus estimate for Boot Barn's current full-year earnings is $5.82 per share.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.19. Boot Barn had a net margin of 9.81% and a return on equity of 18.11%. The firm had revenue of $504.07 million for the quarter, compared to analyst estimates of $489.49 million. During the same quarter in the prior year, the business earned $1.26 earnings per share. The business's quarterly revenue was up 19.1% compared to the same quarter last year.

BOOT has been the topic of a number of other research reports. Bank of America upped their target price on shares of Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Jefferies Financial Group lowered shares of Boot Barn from a "buy" rating to a "hold" rating and lowered their target price for the stock from $187.00 to $175.00 in a report on Wednesday, July 23rd. UBS Group upped their target price on shares of Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Citigroup upped their target price on shares of Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Boot Barn from $207.00 to $247.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Boot Barn presently has an average rating of "Moderate Buy" and a consensus target price of $182.54.

Boot Barn Stock Performance

Shares of NYSE BOOT traded down $0.98 during trading on Thursday, hitting $170.92. 1,978,558 shares of the company traded hands, compared to its average volume of 648,411. The business's fifty day moving average is $164.67 and its 200 day moving average is $137.66. Boot Barn has a fifty-two week low of $86.17 and a fifty-two week high of $183.60. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.00 and a beta of 1.76.

Institutional Trading of Boot Barn

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its position in Boot Barn by 47.3% in the 4th quarter. FMR LLC now owns 2,211,300 shares of the company's stock worth $335,720,000 after purchasing an additional 709,903 shares during the period. Wellington Management Group LLP raised its position in Boot Barn by 48.6% in the 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company's stock worth $328,091,000 after purchasing an additional 706,518 shares during the period. Artemis Investment Management LLP raised its position in Boot Barn by 206.5% in the 1st quarter. Artemis Investment Management LLP now owns 734,023 shares of the company's stock worth $78,856,000 after purchasing an additional 494,523 shares during the period. Nuveen LLC purchased a new position in shares of Boot Barn in the first quarter valued at about $38,387,000. Finally, Capital Research Global Investors increased its position in shares of Boot Barn by 32.6% in the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company's stock valued at $173,351,000 after acquiring an additional 280,892 shares during the period.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, insider Laurie Marie Grijalva sold 2,438 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the transaction, the insider directly owned 14,593 shares of the company's stock, valued at $2,344,657.31. This trade represents a 14.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael A. Love sold 4,154 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total transaction of $645,282.36. Following the completion of the transaction, the insider directly owned 2,112 shares of the company's stock, valued at approximately $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Boot Barn announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

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.