BTIG Research Raises Boot Barn (NYSE:BOOT) Price Target to $185.00

Boot Barn (NYSE:BOOT) had its price objective raised by BTIG Research from $165.00 to $185.00 in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

BOOT has been the topic of several other reports. Citigroup raised their price objective on Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and raised their price target for the company from $154.00 to $162.00 in a research report on Friday, October 25th. Robert W. Baird upped their price objective on shares of Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their target price on shares of Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Finally, Piper Sandler upped their target price on Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Up 0.7 %

Shares of BOOT opened at $125.47 on Tuesday. The business’s fifty day moving average is $153.67 and its 200 day moving average is $132.48. Boot Barn has a 12-month low of $67.53 and a 12-month high of $169.83. The stock has a market cap of $3.83 billion, a P/E ratio of 25.19 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. On average, analysts expect that Boot Barn will post 5.48 EPS for the current year.

Institutional Investors Weigh In On Boot Barn

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. bought a new stake in shares of Boot Barn during the 3rd quarter valued at $25,000. GAMMA Investing LLC increased its position in shares of Boot Barn by 111.1% during the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after buying an additional 140 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Boot Barn in the second quarter worth about $64,000. USA Financial Formulas bought a new position in shares of Boot Barn in the third quarter valued at approximately $92,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Boot Barn during the second quarter valued at approximately $84,000.

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.