Boot Barn (NYSE:BOOT) Stock Rating Upgraded by KeyCorp

Boot Barn (NYSE:BOOT) was upgraded by equities research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a $190.00 target price on the stock. KeyCorp’s price objective would indicate a potential upside of 16.33% from the stock’s current price.

Several other analysts also recently commented on BOOT. Benchmark reaffirmed a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Craig Hallum cut Boot Barn from a “buy” rating to a “hold” rating and boosted their target price for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. UBS Group upgraded Boot Barn from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $155.00 to $210.00 in a research report on Friday, January 10th. Bank of America boosted their target price on Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $173.00.

Boot Barn Stock Performance

Boot Barn stock opened at $163.34 on Thursday. The stock has a 50-day simple moving average of $148.48 and a 200-day simple moving average of $144.54. The company has a market capitalization of $4.98 billion, a P/E ratio of 32.80, a PEG ratio of 1.47 and a beta of 2.10. Boot Barn has a fifty-two week low of $71.54 and a fifty-two week high of $169.83.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. The firm had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. As a group, analysts forecast that Boot Barn will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 represents a 61.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Trust Point Inc. lifted its stake in shares of Boot Barn by 0.8% during the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock worth $1,524,000 after purchasing an additional 71 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Boot Barn by 3.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock worth $382,000 after purchasing an additional 82 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Boot Barn by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock worth $701,000 after purchasing an additional 83 shares during the period. Kings Path Partners LLC lifted its stake in shares of Boot Barn by 2.7% during the 3rd quarter. Kings Path Partners LLC now owns 5,430 shares of the company’s stock worth $908,000 after purchasing an additional 142 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after buying an additional 143 shares during the period.

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.