Boot Barn (NYSE:BOOT) Price Target Raised to $190.00

Boot Barn (NYSE:BOOT) had its price objective increased by BTIG Research from $185.00 to $190.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also issued reports on BOOT. Piper Sandler reaffirmed an “overweight” rating and set a $179.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Bank of America initiated coverage on Boot Barn in a report on Tuesday, January 7th. They set a “buy” rating and a $187.00 target price on the stock. Craig Hallum cut Boot Barn from a “buy” rating to a “hold” rating and upped their price target for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Citigroup reduced 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 note on Tuesday, October 29th. Finally, UBS Group raised shares of Boot Barn from a “neutral” rating to a “buy” rating and upped their target price for the company from $155.00 to $210.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.58.

Boot Barn Trading Up 1.0 %

Shares of NYSE:BOOT opened at $151.51 on Monday. Boot Barn has a 1-year low of $69.35 and a 1-year high of $169.83. The stock has a market capitalization of $4.62 billion, a P/E ratio of 30.42 and a beta of 2.10. The business has a 50-day moving average price of $145.48 and a two-hundred day moving average price of $143.41.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The business had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. During the same period in the previous year, the firm posted $0.91 earnings per share. Boot Barn’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, equities analysts predict that Boot Barn will post 5.48 EPS for the current year.

Insider Buying and Selling

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,937 shares of the company’s stock, valued at $602,282.26. The trade was a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boot Barn

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Boot Barn by 1.0% during 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 during the period. Algert Global LLC lifted its position in 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 acquiring an additional 19,950 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Boot Barn during the third quarter worth approximately $3,343,000. Public Sector Pension Investment Board increased its stake in shares of Boot Barn by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 66,902 shares of the company’s stock worth $8,626,000 after purchasing an additional 4,785 shares during the period. Finally, Dale Q Rice Investment Management Ltd acquired a new stake in Boot Barn during the 4th quarter worth approximately $1,544,000.

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.