Boot Barn (NYSE:BOOT – Free Report) had its price target trimmed by BTIG Research from $102.00 to $100.00 in a research report report published on Thursday, Briefing.com reports. The firm currently has a buy rating on the stock.
A number of other brokerages also recently issued reports on BOOT. Citigroup reduced their price target on Boot Barn from $116.00 to $96.00 and set a buy rating on the stock in a research report on Tuesday, October 24th. StockNews.com cut shares of Boot Barn from a hold rating to a sell rating in a research report on Friday, January 19th. Williams Trading restated a hold rating on shares of Boot Barn in a research note on Tuesday, January 16th. B. Riley reduced their price objective on shares of Boot Barn from $92.00 to $83.00 and set a buy rating for the company in a research note on Thursday. Finally, Piper Sandler lowered their target price on shares of Boot Barn from $120.00 to $99.00 and set an overweight rating on the stock in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $101.56.
Boot Barn Trading Up 3.9 %
Boot Barn (NYSE:BOOT – Get Free Report) last released its earnings results on Thursday, November 2nd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $374.46 million during the quarter, compared to the consensus estimate of $378.44 million. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. Sell-side analysts predict that Boot Barn will post 4.73 earnings per share for the current year.
Insider Activity at Boot Barn
In related news, CFO James M. Watkins sold 15,099 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $75.19, for a total value of $1,135,293.81. Following the completion of the transaction, the chief financial officer now owns 12,819 shares of the company’s stock, valued at approximately $963,860.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Boot Barn
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOOT. Capital World Investors raised its holdings in shares of Boot Barn by 350.2% in the 2nd quarter. Capital World Investors now owns 1,787,200 shares of the company’s stock valued at $151,358,000 after purchasing an additional 1,390,200 shares in the last quarter. Wellington Management Group LLP raised its stake in Boot Barn by 150.4% during the 3rd quarter. Wellington Management Group LLP now owns 897,896 shares of the company’s stock worth $72,900,000 after acquiring an additional 539,296 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Boot Barn by 1,556.3% in the second quarter. Thrivent Financial for Lutherans now owns 489,391 shares of the company’s stock valued at $41,447,000 after purchasing an additional 459,844 shares during the period. Southernsun Asset Management LLC grew its position in Boot Barn by 1,134.1% in the 2nd quarter. Southernsun Asset Management LLC now owns 484,626 shares of the company’s stock valued at $41,043,000 after buying an additional 445,357 shares during the last quarter. Finally, abrdn plc purchased a new position in shares of Boot Barn during the 2nd quarter worth approximately $29,696,000.
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.
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