Boot Barn Holdings, Inc. (NYSE:BOOT) Receives $164.55 Consensus Target Price from Brokerages

Boot Barn Holdings, Inc. (NYSE:BOOT) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $164.55.

BOOT has been the subject of several recent research reports. UBS Group raised their target price on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Baird R W upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $179.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price target on Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Boot Barn by 1.0% during the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock valued at $113,150,000 after purchasing an additional 6,369 shares in the last quarter. Algert Global LLC increased its stake in shares of Boot Barn by 653.9% during the third quarter. Algert Global LLC now owns 23,001 shares of the company’s stock worth $3,848,000 after purchasing an additional 19,950 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Boot Barn during the 3rd quarter worth about $3,343,000. Public Sector Pension Investment Board lifted its stake in Boot Barn by 7.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 66,902 shares of the company’s stock valued at $8,626,000 after buying an additional 4,785 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in Boot Barn by 1.8% in the 2nd quarter. Raymond James & Associates now owns 49,263 shares of the company’s stock valued at $6,351,000 after buying an additional 875 shares in the last quarter.

Boot Barn Stock Performance

Boot Barn stock opened at $148.33 on Wednesday. The business’s 50-day simple moving average is $143.62 and its two-hundred day simple moving average is $140.68. The company has a market cap of $4.53 billion, a PE ratio of 29.79 and a beta of 2.14. Boot Barn has a fifty-two week low of $68.37 and a fifty-two week high of $169.83.

Boot Barn (NYSE:BOOT) last issued its earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The firm had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Boot Barn’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, analysts predict that Boot Barn will post 5.48 EPS for the current fiscal year.

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.