Boot Barn (NYSE:BOOT) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Boot Barn (NYSE:BOOT – Get Rating) in a report issued on Thursday. The brokerage set a “sell” rating on the stock.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their price objective on Boot Barn from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, January 26th. BTIG Research assumed coverage on Boot Barn in a report on Monday, February 6th. They set a “buy” rating and a $110.00 price objective on the stock. Bank of America assumed coverage on Boot Barn in a report on Friday, January 6th. They set a “buy” rating and a $85.00 price objective on the stock. UBS Group lifted their price objective on Boot Barn from $69.00 to $75.00 in a report on Thursday, January 19th. Finally, Robert W. Baird downgraded Boot Barn from an “outperform” rating to a “neutral” rating in a report on Monday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Boot Barn has an average rating of “Moderate Buy” and an average target price of $92.70.

Boot Barn Stock Up 0.4 %

Shares of BOOT opened at $74.21 on Thursday. Boot Barn has a 12-month low of $50.20 and a 12-month high of $105.66. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.27 and a beta of 2.35. The stock’s 50-day moving average price is $77.60 and its 200 day moving average price is $67.01.

Boot Barn (NYSE:BOOT – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The company reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. Boot Barn had a return on equity of 25.42% and a net margin of 10.45%. The firm had revenue of $514.55 million for the quarter, compared to analyst estimates of $514.44 million. During the same period in the previous year, the company posted $2.23 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts expect that Boot Barn will post 5.54 EPS for the current year.

Insider Transactions at Boot Barn

In other news, CEO James Grant Conroy sold 56,880 shares of the business’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $80.95, for a total value of $4,604,436.00. Following the transaction, the chief executive officer now directly owns 35,701 shares of the company’s stock, valued at approximately $2,889,995.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BOOT. Quadrant Capital Group LLC lifted its holdings in Boot Barn by 103.6% during the 4th quarter. Quadrant Capital Group LLC now owns 625 shares of the company’s stock worth $39,000 after buying an additional 318 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Boot Barn by 19.7% during the 4th quarter. First Horizon Advisors Inc. now owns 906 shares of the company’s stock valued at $57,000 after acquiring an additional 149 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Boot Barn by 72.7% during the 2nd quarter. Lazard Asset Management LLC now owns 962 shares of the company’s stock valued at $66,000 after acquiring an additional 405 shares during the last quarter. FourThought Financial LLC raised its position in shares of Boot Barn by 55.9% during the 3rd quarter. FourThought Financial LLC now owns 1,316 shares of the company’s stock valued at $77,000 after acquiring an additional 472 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Boot Barn during the 2nd quarter valued at $105,000.

About Boot Barn

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Boot Barn Holdings, Inc engages in the operation of retail stores of western and work-related footwear, apparel, and accessories. The firm’s products include boots, jeans, accessories, hats, gifts and home products, and work wear. Its brands include Ariat, Wrangler, Lucchese Boots, Idyllwind, and Cinch.