Boot Barn (NYSE:BOOT) PT Raised to $110.00 at Piper Sandler

Boot Barn (NYSE:BOOT) had its price objective raised by stock analysts at Piper Sandler from $94.00 to $110.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 8.90% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Williams Trading restated a “hold” rating on shares of Boot Barn in a report on Tuesday, January 16th. Robert W. Baird lifted their price target on shares of Boot Barn from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. KeyCorp initiated coverage on shares of Boot Barn in a research note on Wednesday, February 7th. They set a “sector weight” rating on the stock. B. Riley dropped their price target on shares of Boot Barn from $92.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Finally, StockNews.com downgraded shares of Boot Barn from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.56.

Boot Barn Trading Down 0.2 %

NYSE:BOOT opened at $101.01 on Tuesday. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 18.81 and a beta of 2.19. The firm’s fifty day simple moving average is $91.66 and its 200 day simple moving average is $80.81. Boot Barn has a twelve month low of $64.33 and a twelve month high of $104.91.

Boot Barn (NYSE:BOOT) last posted its earnings results on Wednesday, January 31st. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.01. The business had revenue of $520.40 million for the quarter, compared to analyst estimates of $520.34 million. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. On average, analysts predict that Boot Barn will post 4.72 earnings per share for the current year.

Insider Transactions at Boot Barn

In other news, CEO James Grant Conroy sold 19,478 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $92.38, for a total value of $1,799,377.64. Following the completion of the sale, the chief executive officer now owns 46,273 shares of the company’s stock, valued at approximately $4,274,699.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James Grant Conroy sold 19,478 shares of Boot Barn stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $92.38, for a total value of $1,799,377.64. Following the completion of the transaction, the chief executive officer now directly owns 46,273 shares of the company’s stock, valued at approximately $4,274,699.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gene Eddie Burt sold 1,000 shares of Boot Barn stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $85.03, for a total transaction of $85,030.00. Following the completion of the transaction, the director now directly owns 1,542 shares of the company’s stock, valued at $131,116.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,339 shares of company stock valued at $2,413,715. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BOOT. Wellington Management Group LLP boosted its holdings in shares of Boot Barn by 186.6% in the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock valued at $197,527,000 after buying an additional 1,675,410 shares during the period. Westwood Holdings Group Inc. acquired a new position in Boot Barn during the 4th quarter valued at about $32,361,000. Ameriprise Financial Inc. boosted its stake in Boot Barn by 107.0% during the 1st quarter. Ameriprise Financial Inc. now owns 662,669 shares of the company’s stock valued at $50,787,000 after purchasing an additional 342,539 shares during the period. American Century Companies Inc. acquired a new stake in shares of Boot Barn in the 3rd quarter worth approximately $23,028,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Boot Barn by 191.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 326,859 shares of the company’s stock worth $22,524,000 after acquiring an additional 214,704 shares during the period.

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.