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

Research analysts at Bank of America began coverage on shares of Boot Barn (NYSE:BOOT) in a report issued on Tuesday. The brokerage set a “buy” rating and a $187.00 price target on the stock. Bank of America‘s price objective would suggest a potential upside of 18.55% from the company’s current price.

Several other brokerages have also recently issued reports on BOOT. Williams Trading reissued a “buy” rating and issued a $173.00 target price on shares of Boot Barn in a research report on Tuesday, October 29th. Craig Hallum downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and raised their price objective for the stock from $154.00 to $162.00 in a report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Citigroup cut their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.42.

Boot Barn Stock Down 0.5 %

Shares of BOOT stock opened at $157.74 on Tuesday. The firm has a market capitalization of $4.82 billion, a PE ratio of 31.67 and a beta of 2.10. The company has a 50 day moving average price of $141.94 and a 200-day moving average price of $142.20. Boot Barn has a 52 week low of $69.35 and a 52 week high of $169.83.

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

Insider Transactions at Boot Barn

In related 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 value of $965,456.78. Following the completion of the sale, the chief executive officer now owns 3,937 shares in the company, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of 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 acquiring an additional 6,369 shares in the last quarter. Algert Global LLC grew its stake in Boot Barn by 653.9% in the third quarter. Algert Global LLC now owns 23,001 shares of the company’s stock valued at $3,848,000 after purchasing an additional 19,950 shares during the last quarter. Blueshift Asset Management LLC bought a new position in Boot Barn in the third quarter worth about $3,343,000. Public Sector Pension Investment Board raised its holdings in Boot Barn by 7.7% in 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 in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Boot Barn by 51.1% during the third quarter. Victory Capital Management Inc. now owns 14,362 shares of the company’s stock valued at $2,402,000 after buying an additional 4,856 shares during the last quarter.

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.