Boot Barn (NYSE:BOOT) Trading Up 3.6% Following Analyst Upgrade

Boot Barn Holdings, Inc. (NYSE:BOOT)’s share price shot up 3.6% during mid-day trading on Tuesday after Piper Sandler raised their price target on the stock from $94.00 to $110.00. Piper Sandler currently has an overweight rating on the stock. Boot Barn traded as high as $101.72 and last traded at $101.65. 150,101 shares were traded during mid-day trading, a decline of 82% from the average session volume of 824,698 shares. The stock had previously closed at $98.15.

Several other equities research analysts have also recently commented on the company. Williams Trading reaffirmed a “hold” rating on shares of Boot Barn in a research report on Tuesday, January 16th. KeyCorp initiated coverage on shares of Boot Barn in a research report on Wednesday, February 7th. They set a “sector weight” rating on the stock. StockNews.com downgraded shares of Boot Barn from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. Robert W. Baird boosted their target price on shares of Boot Barn from $70.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Finally, UBS Group upgraded Boot Barn from a “neutral” rating to a “buy” rating and raised their price target for the stock from $75.00 to $108.00 in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Boot Barn presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.56.

Insiders Place Their Bets

In other Boot Barn news, Director Gene Eddie Burt sold 1,000 shares of Boot Barn stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $85.03, for a total transaction of $85,030.00. Following the transaction, the director now owns 1,542 shares of the company’s stock, valued at $131,116.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gene Eddie Burt sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $85.03, for a total value of $85,030.00. Following the transaction, the director now directly owns 1,542 shares in the company, valued at $131,116.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Grant Conroy sold 19,478 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 26,339 shares of company stock worth $2,413,715 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boot Barn

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Boot Barn by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock worth $210,638,000 after buying an additional 35,925 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Boot Barn by 186.6% during the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after acquiring an additional 1,675,410 shares in the last quarter. State Street Corp raised its holdings in shares of Boot Barn by 3.1% during the 2nd quarter. State Street Corp now owns 1,128,031 shares of the company’s stock worth $95,533,000 after acquiring an additional 33,688 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Boot Barn by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,810 shares of the company’s stock valued at $83,425,000 after acquiring an additional 16,308 shares during the last quarter.

Boot Barn Stock Down 0.2 %

The business’s fifty day moving average is $91.66 and its two-hundred day moving average is $80.81. The stock has a market capitalization of $3.06 billion, a PE ratio of 18.81 and a beta of 2.19.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. The business had revenue of $520.40 million during the quarter, compared to analysts’ expectations of $520.34 million. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. Sell-side analysts expect that Boot Barn Holdings, Inc. will post 4.72 EPS for the current fiscal year.

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.