Shares of Boot Barn Holdings Inc (BOOT) Jump 24% on Earnings Beat


Shares of Boot Barn Holdings Inc (NYSE:BOOT) are up significantly this morning after the company reported their Third Quarter Earnings. For the quarter, earnings per share came in at $0.45, which beat Wall Street’s forecast of $0.44. Additionally, revenue came in at $194 million, beating the Street’s expectations of $192.13 million.

Boot Barn Holdings Inc (NYSE:BOOT) also issued guidance for the fourth quarter. They expect earnings per share to come in at between $0.11 and $0.13, which is on the low end of the Street’s forecast of $0.13 per share. For fiscal year 2016, the compamy expects to see EPS of between $0.71 and $0.73 per share, also coming in on the low end of the Street’s $0.73 forecast.

The stock is up 24.59% or $1.36 following the news, hitting $6.89 per share. About 63,036 shares traded hands. BOOT has declined 81.60% since June 29, 2015 and is downtrending. It has underperformed the S&P500 by 74.08%.

From a total of 7 analysts covering Boot Barn Holdings (NYSE:BOOT) stock, 3 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 43% of the ratings are positive. The highest target price is $29.0 while the lowest target price is $11. The mean of all analyst targets is $18.30 which is 165.60% above today’s ($6.89) stock price. Boot Barn Holdings was the topic of 11 analyst reports since September 30, 2015 according to the firm StockzIntelligence Inc. R. RIley upgraded shares on February 3 to a “Buy” rating. Wells Fargo downgraded BOOT stock in a recent report from November 19 to a “Market Perform” rating. Finally, Citigroup initiated the stock with a “Neutral” rating in a report they issued on an October 7.

The institutional sentiment decreased to 0.94 in Q2 2015. It’s down 0.71, from 1.65 in 2015Q2. The ratio fall, as 26 funds sold all their Boot Barn Holdings Inc shares they owned while 25 reduced their positions. 14 funds bought stakes while 34 increased their total positions. Institutions now own 32.69 million shares which is 20.22% more than the previous share count of 27.19 million in 2015Q2.

Fs Capital Partners Vi Llc holds 100% of its total portfolio in Boot Barn Holdings Inc, equating to 12.43 million shares. Tyvor Capital Llc owns 358,283 shares representing 2.19% of their total US portfolio. Moreover, Fiduciary Management Associates Llc has 0.93% of their total portfolio invested in the company, equating to 774,591 shares. The Massachusetts-based Nichols Asset Management Llc has a total of 0.35% of their portfolio invested in the stock. Quantitative Systematic Strategies Llc, a Connecticut-based fund reported 29,167 shares owned.

Boot Barn Holdings, Inc. is a lifestyle retail chain. The company has a market cap of $210.84 million. The Firm is engaged in offering western and work-related footwear, apparel and accessories in the United States with 169 stores in 26 states as of March 28, 2015. It has 16.77 P/E ratio. The Company’s stores are generally freestanding or located in strip centers, with an average of 10,748 square feet, and feature an assortment of approximately 200 brands.