Boot Barn (NYSE:BOOT) Earns Buy Rating from Analysts at Bank of America

Bank of America started coverage on shares of Boot Barn (NYSE:BOOT) in a research report sent to investors on Tuesday morning. The brokerage issued a buy rating and a $187.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. Williams Trading restated a “buy” rating and set a $173.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. Citigroup lowered their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Robert W. Baird raised shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price for the company in a research report on Wednesday, October 30th. UBS Group increased their price target on Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned 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 an average price target of $166.42.

Boot Barn Stock Up 1.6 %

Shares of BOOT opened at $160.38 on Tuesday. Boot Barn has a twelve month low of $69.35 and a twelve month high of $169.83. The company has a market capitalization of $4.90 billion, a P/E ratio of 32.20 and a beta of 2.10. The firm has a 50 day moving average of $142.56 and a 200 day moving average of $142.42.

Boot Barn (NYSE:BOOT) last posted its earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping 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 business had revenue of $425.80 million during the quarter, compared to analyst estimates of $424.42 million. During the same quarter last year, the company earned $0.91 EPS. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts expect that Boot Barn will post 5.48 EPS for the current year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the sale, the chief executive officer now owns 3,937 shares in the company, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boot Barn

A number of hedge funds have recently modified their holdings of the company. State Street Corp lifted its stake in shares of Boot Barn by 4.4% during the 3rd quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after buying an additional 51,356 shares in the last quarter. Geode Capital Management LLC increased its stake in Boot Barn by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock worth $113,150,000 after buying an additional 6,369 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Boot Barn by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 495,546 shares of the company’s stock valued at $82,895,000 after acquiring an additional 1,834 shares during the period. Franklin Resources Inc. lifted its position in shares of Boot Barn by 1.0% in the third quarter. Franklin Resources Inc. now owns 420,688 shares of the company’s stock valued at $68,004,000 after acquiring an additional 4,226 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Boot Barn by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 352,698 shares of the company’s stock worth $58,999,000 after acquiring an additional 6,335 shares during the period.

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.